Pound Sterling Price News and Forecast: GBP/USD Price Analysis: Bulls move in and eye 1.2500

FXStreet Team FXStreet

GBP/USD Price Analysis: Bulls move in and eye 1.2500

As per the prior day´s analysis, GBP/USD Price Analysis: Bulls meet key resistance, bears lurking, whereby the price was anticipated to continue forming the right-hand shoulder of the head and shoulders, we have seen just that. Read More...

GBP/USD bounces off daily low, lacks follow-through; remains below 50-day SMA

The GBP/USD pair attracts some dip-buying near the 1.2350-1.2345 area on Wednesday and climbs to the top end of its daily trading range during the early North American session. The pair is currently placed around the 1.2400 mark, below the 50-day Simple Moving Average (SMA) hurdle tested the previous day. Read More...

GBP/USD is seen trading between 1.2330 and 1.2505 – UOB

GBP/USD has likely moved into a consolidative phase according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.2424
Today Daily Change	0.0010
Today Daily Change %	0.08
Today daily open	1.2414

Trends
Daily SMA20	1.248
Daily SMA50	1.2441
Daily SMA100	1.2292
Daily SMA200	1.1984

Levels
Previous Daily High	1.2447
Previous Daily Low	1.2327
Previous Weekly High	1.2472
Previous Weekly Low	1.2308
Previous Monthly High	1.2584
Previous Monthly Low	1.2275
Daily Fibonacci 38.2%	1.2401
Daily Fibonacci 61.8%	1.2373
Daily Pivot Point S1	1.2345
Daily Pivot Point S2	1.2276
Daily Pivot Point S3	1.2226
Daily Pivot Point R1	1.2465
Daily Pivot Point R2	1.2516
Daily Pivot Point R3	1.2585

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD advances as US Dollar remains subdued following US inflation data

GBP/USD rises for the second consecutive day, trading around 1.3400 during the Asian hours. The pair appreciates as the US Dollar holds losses following softer-than-expected US inflation data, fueling hopes that the US Federal Reserve might adopt a less hawkish monetary stance.

EUR/USD: Bulls remain cautious below 23.6% Fibo. and 1.1470 hurdle

The EUR/USD pair attracts some dip-buyers following the previous day's pullback from the 1.1460-1.1470 horizontal resistance, though it remains confined within a multi-week-old range. Spot prices trade around the 1.1435-1.1440 region during the Asian session on Wednesday, up for the second straight day amid modest US Dollar weakness.

Gold edges lower as elevated oil prices bolster Fed hike prospects and offset soft USD

Gold attracts some sellers after failing to find acceptance above the $4,100 mark the previous day, though it holds above the $4,000 psychological mark during the Asian session on Wednesday. Despite soft US Consumer Price Index data, investors remain worried about energy-driven inflation as escalating US-Iran tensions and the closure of the Strait of Hormuz remain supportive of elevated crude oil prices.

Bitcoin, Ethereum, and Ripple show tentative recovery as key technical levels hold

Bitcoin, Ethereum and Ripple trade with a mild positive bias on Wednesday as sentiment improves across the cryptocurrency market. BTC is testing its 50-day Exponential Moving Average, ETH has broken above a key resistance level at $1,800, while XRP has found support around a key level.

2% and nothing else: Why Warsh gave Congress three hours of Greenspan

The Federal Reserve Chair who wants the institution to say less spent Tuesday legally required to say more, on the one morning the data handed him something pleasant to say. June's Consumer Price Index fell 0.4% on the month, the steepest single-month decline since April 2020.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.