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.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD nudges higher above 1.1350 on softer Fed stance, traders await US jobs data

The EUR/USD pair posts modest gains near 1.1380 during the early Asian session on Thursday. The US Dollar edges lower against the Euro on less hawkish remarks from Federal Reserve Chairman Kevin Warsh. Traders will closely monitor the US jobs data for June later on Thursday.

Gold hovers near $4,050 as bullish USD caps gains ahead of US NFP

Gold steadies following the previous day's volatile two-way price swings and trades just below $4,050 during the Asian session on Thursday as traders now look to the crucial US NFP report for fresh impetus. In the meantime, Wednesday's US economic data kept Fed rate-hike expectations elevated and continues to act as a tailwind for the US Dollar. Furthermore, the uncertainty over US-Iran talks underpins the safe-haven buck, which, in turn, should cap the bullion.

Morpho surges as Standard Chartered projects $60 price by 2030

Standard Chartered has initiated coverage of decentralized finance lending protocol Morpho, forecasting its native token could reach $60 by the end of 2030 as the sector expands and institutional adoption of onchain finance accelerates.

Warsh stays on message as inflation remains the Fed's top priority

At the ECB Forum in Sintra, Fed Chair Kevin Warsh largely followed the script, offering little to change the market’s current view on monetary policy.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.