Pound Sterling Price News and Forecast: GBP/USD grinds higher around weekly top

FXStreet Team FXStreet

GBP/USD Price Analysis: 20-DMA probes bulls near 1.2500 ahead of UK inflation

GBP/USD bulls take a breather around 1.2500, after rising the most in 19 months the previous day. That said, the cable pair battles with the 20-DMA around the weekly top by the press time of Wednesday’s Asian session, while waiting for the monthly inflation data from the UK.

GBP/USD balances below 1.2500 ahead of UK Inflation, Fed seeks price stability

The GBP/USD pair is displaying back and forth moves in a narrow range of 1.2484-1.2496 in the Asian session as investors are on the sidelines ahead of the UK Consumer Price Index (CPI) figures on Wednesday. As per the market consensus, the annual inflation figure is eyeing the rooftop. The yearly CPI figure is seen at 9.1%, potentially higher than the prior print of 7%. While, the annual core CPI would jump to 6.2%, against the former figure of 5.7%.

GBP/USD

Overview
Today last price	1.2496
Today Daily Change	0.0003
Today Daily Change %	0.02
Today daily open	1.2493

Trends
Daily SMA20	1.2517
Daily SMA50	1.2868
Daily SMA100	1.3188
Daily SMA200	1.3382

Levels
Previous Daily High	1.2499
Previous Daily Low	1.2316
Previous Weekly High	1.2406
Previous Weekly Low	1.2155
Previous Monthly High	1.3167
Previous Monthly Low	1.2411
Daily Fibonacci 38.2%	1.2429
Daily Fibonacci 61.8%	1.2386
Daily Pivot Point S1	1.2373
Daily Pivot Point S2	1.2253
Daily Pivot Point S3	1.2191
Daily Pivot Point R1	1.2556
Daily Pivot Point R2	1.2619
Daily Pivot Point R3	1.2739

Author

FXStreet Team

FXStreet

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.