Pound Sterling Price News and Forecast: GBP/USD fades recovery moves, the heaviest in one week

FXStreet Team FXStreet

GBP/USD: AUKUS, UK PM Johnson’s reshuffle test bulls around 1.3850, US Retail Sales eyed

GBP/USD struggles to keep the rebound from a weekly low of around 1.3850 during Thursday’s Asian session. The cable pair posted the heaviest upside in a week following a broad US dollar downside amid the risk-on mood. However, the latest challenges to the market sentiment and caution ahead of another important data to determine the Fed’s next move question the upside moves.

GBP/USD

Overview
Today last price	1.3844
Today Daily Change	0.0002
Today Daily Change %	0.01
Today daily open	1.3842

Trends
Daily SMA20	1.3774
Daily SMA50	1.3808
Daily SMA100	1.3915
Daily SMA200	1.3832

Levels
Previous Daily High	1.3854
Previous Daily Low	1.3792
Previous Weekly High	1.3889
Previous Weekly Low	1.3726
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.383
Daily Fibonacci 61.8%	1.3816
Daily Pivot Point S1	1.3805
Daily Pivot Point S2	1.3768
Daily Pivot Point S3	1.3744
Daily Pivot Point R1	1.3866
Daily Pivot Point R2	1.389
Daily Pivot Point R3	1.3927

GBP/USD analysis: Finds support in 1.3800

The GBP/USD currency exchange rate found support in the 1.3800 level just after GMT midnight to Wednesday. At mid-day the pair was testing and piercing the resistance of the 55, 100 and 200-hour simple moving averages in the 1.3825/1.3840 zone.

If the pair manages to pass the resistance of the SMAs, it could once again test the weekly R1 simple pivot point at 1.3910 level. However, on its way up the GBP/USD might be slowed down by the 1.3900 mark.

AUD/USD turns lower toward 0.7000 after mixed Australian jobs data

AUD/USD is losing ground toward 0.7000 in the Asian session on Thursday, following the release of the Australian August jobs report, which showed that the Unemployment Rate rose to 4.6% versus 4.5% expected, while Employment Change beat estimates, arriving at 39.5K. Traders also remain unnerved ahead of the critical Trump-Xi meeting.

USD/JPY keeps the red near 158.00 as Japanese Yen firms up

USD/JPY retreats from three-week highs and holds losses near 158.00 in the Asian session on Thursday. Surging Japanese bond yields lift the Yen amid looming intervention risks, while the US Dollar preserves overnight gains to a two-month high amid hawkish Fed bets and elevated US bond yields.

Gold struggles near one-week low as traders await Trump-Xi meeting amid Fed hike bets

Gold sticks to a negative bias for the second straight day, trading below the $4,300 mark or a one-week low during the first half of the European session as traders await a crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. Expectations for a major announcement are low, though market players will look for any progress on rare earths, technology restrictions, and an extension of the current US-China truce.

Bitcoin slips to $84,000 on rate hike bets – Worldcoin, Pepe lead losses

Bitcoin (BTC) price trades below $84,000 on Thursday, extending losses after a 2% decline the previous day. The pullback aligns with renewed inflation and rate-hike concerns, as US composite and services PMIs rose to 58.4 and 58.7 in September. Worldcoin (WLD) and Pepe (PEPE) recorded double-digit losses over the last 24 hours, emerging as the worst performers.

SNB leaves interest rates unchanged at 0%

Swiss National Bank leaves its key policy rates unchanged at 0%, as expected by market particiapnts. The key highlights of SNB’s monetary policy assessment are as followed: Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold. SNB sees 2026 inflation at 0.7% (previous forecast was for 0.6%). The main risk to the economic outlook for Switzerland stems from developments in the global economy.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.