GBP/USD Forecast: UK employment data help Pound Sterling hold its ground
GBP/USD fluctuated in a narrow range on Monday and closed the day virtually unchanged. The pair edges slightly higher in the European morning on Tuesday and trades above 1.3050.
The data published by the UK's Office for National Statistics (ONS) showed early Tuesday that the ILO Unemployment Rate eased to 4.0% in the three months to August, following July’s 4.1% reading. Additional details of the report showed the Employment Change data for August arrived at 373K, compared to 265k reported in July. Finally, wage inflation, as measured by the changed in the Average Earnings excluding Bonus, softened to 4.9% from 5.1%. These readings seem to be helping Pound Sterling find a foothold. Read more...
GBP/USD holds near September’s support zone after mixed jobs data
GBPUSD faced mild selling pressure but held its footing above September’s floor of 1.3000-1.3040 after the UK employment survey showed better-than-expected jobs data in August and an increase in the number of unemployed people in September.
The bears may have luck on their side as the technical indicators are not confirming oversold conditions yet. While the stochastic oscillator has dropped below 20, the RSI is still above its 30 oversold level. Likewise, the price itself has not touched the lower Bollinger band. Read more...
GBP/USD outlook: Bearish bias under daily cloud top
Bears hold grip and keep the price within daily cloud for the third straight day, with cloud top acting as solid resistance and limits upticks.
Renewed probe through 1.3049 (50% retracement of 1.2664/1.3434) looks for eventual firm break here to signal bearish continuation for attack at psychological support at 1.30 (also Sep 11 higher low), which guards more significant levels at 1.2958 (Fibo 61.8%) and 1.2940 (daily cloud base). Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD erases gains to trade near 1.1050 ahead of US NFP, Powell
EUR/USD has erased gains to trade neutral near 1.1050 in the European session on Friday. The US Dollar breathes a sigh of relief after the trade war and recession fears-led sell-off, weighing on the pair. Traders look to the US NFP report and Fed Chair Powell's speech for fresh directives.
GBP/USD returns to the red near 1.3050 as US NFP data looms
GBP/USD is under heavy selling pressure near 1.3050 in European trading on Friday. Traders resort to profit-taking on their US Dollar short positiions, adjusting ahead of the critical US Nonfarm Payrolls data and Fed Chair Powell speech.
Gold price sticks to negative bias around $3,100; bears seem non-committed ahead of US NFP report
Gold price meets with a fresh supply on Friday, though the downside potential seems limited. Trump’s tariffs-inspired risk-off mood might continue to act as a tailwind for the precious metal. Fed rate cut bets weigh on the USD and also contribute to limiting losses for the XAU/USD pair.
XRP finds new lifeline as Coinbase Derivatives eyes XRP futures on April 21
Ripple price reclaims the $2.00 support level and trades at $2.06 at the time of writing on Friday in the wake of a drawdown to $1.96 during Thursday’s session. Traders continue to exercise caution after Trump’s tariffs hit 100 countries, as per a CryptoQuant report.
Trump’s “Liberation Day” tariffs on the way
United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.