Pound Sterling Price News and Forecast: GBP/USD fails to extend the corrective pullback from weekly low

FXStreet Team FXStreet

GBP/USD portrays indecision around mid-1.2200s ahead of UK/US PMI data

GBP/USD treads water around 1.2265 during the early Asian session on Thursday, after failing to extend the recovery from a weekly low beyond 1.2315. The cable pair’s latest inaction could be the mixed plays, as well as cautious sentiment ahead of the preliminary PMIs for June month from the UK and the US.

GBP/USD

Overview
Today last price	1.2258
Today Daily Change	-0.0015
Today Daily Change %	-0.12
Today daily open	1.2273

Trends
Daily SMA20	1.2426
Daily SMA50	1.2531
Daily SMA100	1.2911
Daily SMA200	1.3214

Levels
Previous Daily High	1.2324
Previous Daily Low	1.2242
Previous Weekly High	1.2407
Previous Weekly Low	1.1934
Previous Monthly High	1.2667
Previous Monthly Low	1.2155
Daily Fibonacci 38.2%	1.2293
Daily Fibonacci 61.8%	1.2273
Daily Pivot Point S1	1.2235
Daily Pivot Point S2	1.2197
Daily Pivot Point S3	1.2152
Daily Pivot Point R1	1.2317
Daily Pivot Point R2	1.2362
Daily Pivot Point R3	1.24

UK inflation indicates that the Bank of England is moving too slow

GBPUSD is now trading at 1.22 - near the psychological low of 1.2000, where it received critical support in 2017 and 2020. But that support may not survive the third test of strength due to an increasingly threatening gap between inflation and interest rates, which would devalue debt. But this is a risky policy that could undermine confidence in the financial system, which will require decisive and brutal measures for the economy to restore.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD declines below 1.3500 on UK political uncertainty, US PPI data eyed

The GBP/USD pair loses ground to near 1.3485 during the early Asian session on Friday. The Pound Sterling weakens against the Greenback amid rising UK political uncertainty surrounding the Gorton and Denton by-election.

Gold awaits acceptance above $5,200 and US PPI data

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.