Pound Sterling Price News and Forecast: GBP/USD drifts lower to 1.2682 ahead of UK GDP

FXStreet Team FXStreet

GBP/USD Price Analysis: The immediate upside barrier is seen at 1.2740

The GBP/USD pair struggles to gain ground during the early European session on Friday. The major pair remains capped below the 1.2700 psychological mark ahead of the top-tier economic data from both the United Kingdom (UK) and the United States (US). At press time, GBP/USD is trading at 1.2682, down 0.04% on the day.

Technically, GBP/USD maintains a positive outlook as the pair holds above the 100-hour Exponential Moving Averages (EMA) on the four-hour chart. Furthermore, the Relative Strength Index (RSI) stands in bullish territory above 50, indicating the further upside looks favorable. Read more...

GBP/USD remains below 1.2700 mark ahead of UK macro data and US PCE Price Index

The GBP/USD pair struggles to build on the previous day's solid bounce of around 85 pips from the 1.2610 region, or a one-week low and oscillates in a range during the Asian session on Friday. Spot prices remain below the 1.2700 mark as traders now look to the important macro releases from the UK and the US before positioning for a firm intraday direction.

The UK Office for National Statistics will publish the monthly Retail Sales report during the early European session, along with the final Q3 GDP print. Meanwhile, the US economic docket features the Core Personal Consumption Expenditure (PCE) Price Index, which should influence the Federal Reserve's (Fed) future policy decisions. This, in turn, will drive the US Dollar (USD) demand and provide some meaningful impetus to the GBP/USD pair. Read more...

GBP/USD

Overview
Today last price	1.2685
Today Daily Change	-0.0003
Today Daily Change %	-0.02
Today daily open	1.2688

Trends
Daily SMA20	1.2638
Daily SMA50	1.2422
Daily SMA100	1.2449
Daily SMA200	1.2514

Levels
Previous Daily High	1.2696
Previous Daily Low	1.2612
Previous Weekly High	1.2794
Previous Weekly Low	1.2501
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2664
Daily Fibonacci 61.8%	1.2644
Daily Pivot Point S1	1.2635
Daily Pivot Point S2	1.2582
Daily Pivot Point S3	1.2551
Daily Pivot Point R1	1.2718
Daily Pivot Point R2	1.2749
Daily Pivot Point R3	1.2802

Author

FXStreet Team

FXStreet

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