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Pound Sterling Price News and Forecast: GBP/USD gains traction and reclaimed 1.2000

FXStreet Team FXStreet

GBP/USD gains traction and reclaimed 1.2000 as the GBP prepares for weekly losses

The GBP/USD is staging a recovery after diving to fresh February lows around 1.1914 in the mid-North American session, bolstered by overall US Dollar (USD) weakness. Nevertheless, it remains trading below the important 200-day Exponential Moving Average (EMA) at 1.2132, keeping the downtrend intact. At the time of writing, the GBP/USD is exchanging hands above the 1.2020 figure, above its opening price by 0.30%. Read More...

GBP/USD slides below 200 DMA support, seems vulnerable near its lowest level since January

The GBP/USD pair remains under heavy selling pressure for the third straight day on Friday and drops to its lowest level since January 6 during the first half of the European session. Read More...

GBP/USD risks a probable drop to 1.1900 – UOB

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD could extend the decline to the 1.1900 region in the next weeks. Read More...

GBP/USD

Overview
Today last price	1.203
Today Daily Change	0.0038
Today Daily Change %	0.32
Today daily open	1.1992

Trends
Daily SMA20	1.2214
Daily SMA50	1.2178
Daily SMA100	1.1894
Daily SMA200	1.1941

Levels
Previous Daily High	1.2074
Previous Daily Low	1.1966
Previous Weekly High	1.2194
Previous Weekly Low	1.1961
Previous Monthly High	1.2448
Previous Monthly Low	1.1841
Daily Fibonacci 38.2%	1.2007
Daily Fibonacci 61.8%	1.2033
Daily Pivot Point S1	1.1947
Daily Pivot Point S2	1.1902
Daily Pivot Point S3	1.1839
Daily Pivot Point R1	1.2056
Daily Pivot Point R2	1.212
Daily Pivot Point R3	1.2165

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.

AUD/USD consolidates above 0.7000/two-month low; bearish potential intact

The AUD/USD pair oscillates in a narrow range during the Asian session, and moves little following the release of mixed inflation figures from China. Spot prices currently trade around the 0.7025 region, nearly unchanged for the day, and remain within striking distance of a nearly two-month low set on Tuesday. Renewed hostilities between the US and Iran temper hopes for a deal to end the over three-month-old war.

Japanese Yen languishes despite wholesale inflation accelerates in May

USD/JPY flatlines after experiencing volatility, trading around 160.40 during the Asian hours on Wednesday. The pair continues to hold its ground, reflecting a struggling Japanese Yen that has failed to find support despite a massive acceleration in wholesale inflation. Driven by surging energy costs linked to the ongoing Middle East conflict, Japan’s Producer Price Index jumped 6.3% year-over-year in May. This hot printing comfortably outpaced April’s upwardly revised 5.3% figure and surpassed market consensus of 5.5%, marking the fastest pace of wholesale price growth in three years.

$4,200: Gold retains bearish bias near March low ahead of US CPI

Gold recovers slightly after touching a fresh low since March 23, though it retains a bearish bias near the $4,200 mark through the early European session. Renewed hostilities between the US and Iran fuel inflationary concerns and bolster bets for more hawkish central banks, which is seen as a key factor driving flows away from the non-yielding yellow metal. Furthermore, the decline could be attributed to technical selling following the recent breakdown below the very important 200-day SMA.

Cardano's downtrend deepens despite on-chain bottoming signals

Cardano edges lower to $0.1600 signaling a potential extension of the 30% loss from last week. The altcoin remains under intense selling pressure, weighing on its retail support. Still, a spike in dormant supply re-entering circulation signals that the selling pressure has run its course, a pattern that often precedes a rebound.

US CPI data set to show inflation at three-year high in May, backing Fed hawkish tilt

The US Bureau of Labor Statistics will publish the May Consumer Price Index (CPI) data on Wednesday. The report is expected to show another step up in consumer inflation, driven by the persistently high Oil prices due to the ongoing crisis in the Middle East.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.

Pound Sterling Price News and Forecast: GBP/USD gains traction and reclaimed 1.2000

GBP/USD gains traction and reclaimed 1.2000 as the GBP prepares for weekly losses

GBP/USD slides below 200 DMA support, seems vulnerable near its lowest level since January

GBP/USD risks a probable drop to 1.1900 – UOB

GBP/USD

Editor's Picks

AUD/USD consolidates above 0.7000/two-month low; bearish potential intact

Japanese Yen languishes despite wholesale inflation accelerates in May

$4,200: Gold retains bearish bias near March low ahead of US CPI

Cardano's downtrend deepens despite on-chain bottoming signals

US CPI data set to show inflation at three-year high in May, backing Fed hawkish tilt

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

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GBP/USD gains traction and reclaimed 1.2000 as the GBP prepares for weekly losses

GBP/USD slides below 200 DMA support, seems vulnerable near its lowest level since January

GBP/USD risks a probable drop to 1.1900 – UOB

GBP/USD

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