Pound Sterling Price News and Forecast: GBP/USD golden cross formed

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling to break out of range on US inflation data

GBP/USD has extended its sideways grind following Wednesday's choppy action and was last seen trading at around 1.2150. December inflation data from the US could significantly influence the US Dollar's valuation and provide a direction clue to the pair in the second half of the day.

On Wednesday, the US Dollar failed to stage a rebound as Wall Street's main indexes continued to push higher after having closed in positive territory on Tuesday. Nevertheless, GBP/USD action remained limited with investors refraining from making large bets ahead of the Consumer Price Index (CPI) data. Read more...

GBP/USD: Golden cross formed, risk modestly skewed to the upside – OCBC

The GBP/USD pair is currently trading around the mid-1.2100s. Economists at OCBC Bank keep a mild bullish bias on Cable.

“Golden cross formed, with the 50-Day Moving Average (DMA) cutting 200DMA to the upside. Risk modestly skewed to the upside.”

“Resistance is seen at 1.2220 levels.”

“Support at 1.2085 (21DMA), 1.2050 (50% fibo retracement of 2022 high to low), 1.2020 (50, 200DMAs).” Read more...

GBP/USD: Short-term headwinds for the Pound to cap any gains after US CPI – Scotiabank

GBP/USD consolidates below 1.22. The Pound may struggle to benefit from Dollar weakness after US inflation data, according to economists at Scotiabank.

“More strike action was announced today, adding to ongoing industrial action in the health and transport sectors. Meanwhile, easing energy prices have pushed peak BoE pricing to 4.41%, down from a recent high above 4.75%. These factors may slow GBP gains versus the softer USD in the event of more Dollar weakness after US inflation data.” Read more...

GBP/USD

Overview
Today last price	1.2163
Today Daily Change	0.0017
Today Daily Change %	0.14
Today daily open	1.2146

Trends
Daily SMA20	1.2082
Daily SMA50	1.1999
Daily SMA100	1.168
Daily SMA200	1.2005

Levels
Previous Daily High	1.2179
Previous Daily Low	1.21
Previous Weekly High	1.2102
Previous Weekly Low	1.1841
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.213
Daily Fibonacci 61.8%	1.2149
Daily Pivot Point S1	1.2105
Daily Pivot Point S2	1.2064
Daily Pivot Point S3	1.2027
Daily Pivot Point R1	1.2183
Daily Pivot Point R2	1.222
Daily Pivot Point R3	1.2261

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.

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