Pound Sterling Price News and Forecast: GBP/USD gains on weak US retail data, despite UK recession fears

FXStreet Team FXStreet

GBP/USD gains on weak US retail data, despite UK recession fears

The Pound Sterling (GBP) climbed during the North American session following a soft retail sales report that lifted the major from a crucial technical level. Consequently, the Greenback (USD) is on the defensive as the GBP/USD trades at 1.2586, up 0.17%, after jumping off a daily low of 1.2541. Read More...

Pound Sterling recovers losses as weak US Retail Sales improve market sentiment

The Pound Sterling (GBP) rebounds from the day's low as downbeat United States Retail Sales data for January has improved market sentiment. The US Census Bureau has reported that Retail Sales contracted significantly by 0.8% against the consensus of a moderate decline of 0.1%. In December, the economic data was expanded by 0.6%. The US Dollar Index (DXY) falls vertically to 104.30. Read More...

GBP/USD remains on the defensive above 1.2550 ahead of UK GDP, US Retail Sales data

The GBP/USD pair remains on the defensive above the mid-1.2500s during the early Asian trading hours on Thursday. The pair bounces off the low of 1.2535, but the upside is likely to be limited, backed by the softer UK inflation data. Investors will shift their attention to the UK GDP growth numbers for the fourth quarter (Q4), due on Thursday. At press time, the major pair is trading at 1.2568, gaining 0.03% on the day. Read More...

GBP/USD

Overview
Today last price	1.2598
Today Daily Change	0.0034
Today Daily Change %	0.27
Today daily open	1.2564

Trends
Daily SMA20	1.2659
Daily SMA50	1.2675
Daily SMA100	1.25
Daily SMA200	1.2564

Levels
Previous Daily High	1.2611
Previous Daily Low	1.2536
Previous Weekly High	1.2643
Previous Weekly Low	1.2518
Previous Monthly High	1.2786
Previous Monthly Low	1.2597
Daily Fibonacci 38.2%	1.2565
Daily Fibonacci 61.8%	1.2582
Daily Pivot Point S1	1.2529
Daily Pivot Point S2	1.2495
Daily Pivot Point S3	1.2454
Daily Pivot Point R1	1.2605
Daily Pivot Point R2	1.2646
Daily Pivot Point R3	1.268

Author

FXStreet Team

FXStreet

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