Pound Sterling Price News and Forecast: GBP/USD grinds higher following the biggest daily jump

FXStreet Team FXStreet

GBP/USD: Softer USD cover Brexit wounds near 1.3800, focus on US Core PCE Inflation

GBP/USD reacts to Brexit jitters with a cold heart, despite easing a bit from weekly top to 1.3800 by the press time of the initial Asian session on Friday. That being said, the cable pair seems to cheer the US dollar weakness amid risk-on mood. Risk catalysts can entertain ahead of Fed’s preferred inflation gauge’s release.

GBP/USD

Overview
Today last price	1.3801
Today Daily Change	0.0013
Today Daily Change %	0.09
Today daily open	1.3788

Trends
Daily SMA20	1.3691
Daily SMA50	1.3714
Daily SMA100	1.3785
Daily SMA200	1.3852

Levels
Previous Daily High	1.3815
Previous Daily Low	1.3722
Previous Weekly High	1.3834
Previous Weekly Low	1.3709
Previous Monthly High	1.3913
Previous Monthly Low	1.3412
Daily Fibonacci 38.2%	1.3779
Daily Fibonacci 61.8%	1.3758
Daily Pivot Point S1	1.3736
Daily Pivot Point S2	1.3683
Daily Pivot Point S3	1.3643
Daily Pivot Point R1	1.3828
Daily Pivot Point R2	1.3868
Daily Pivot Point R3	1.392

GBP/USD analysis: Retraces to resistance near 1.3770

On Wednesday, the GBP/USD found support at 1.3710 and started a recovery. By the middle of Thursday's trading hours, the GBP/USD had reached the 1.3770 level. From 1.3760 up to 1.3777, the pair faced the resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point.

GBP/USD bounces off four-day lows, still below 1.3500

GBP/USD sticks to the bearish tone on Thursday, coming down to the 1.3480 region in the latter part of the NA session. In the meantime, Cable’s weakness comes as investors continue to assess mixed UK data, poor US results, and the persistent uncertainty surrounding the US-Iran conflict.

EUR/USD looks apathetic around 1.1530

EUR/USD reverses Wednesday’s downtick and trades with modest gains in the 1.1530 region following the end of the NA session on Thursday. The pair’s tepid advance comes on the back of the absence of clear direction in the US Dollar despite tensions from the Middle East appear far from alleviated. Later on Friday, investors are expected to monitor the the releases of another revision of GDP figures in the Euroland, US Retail Sales and the preliminary U-Mich gauge.

Gold loses the grip, recedes toward $4,350

Gold extends its intraday pullback on Thursday, retesting the $4,350 zone per troy ounce, or three-day troughs. Meanwhile, the yellow metal continues to monitor developments from the Middle East as well as bets surrounding the potential Fed’s rate path.

Ethereum Price Forecast: Fidelity plans to add staking to ETH ETF amid yield debate

Asset manager Fidelity has filed with the US Securities and Exchange Commission (SEC) to permit staking in its Ethereum (ETH) exchange-traded fund (ETF), the Fidelity Ethereum Fund (FETH), which holds over $898 million in net assets.

Week ahead – Summer lull could be tested by geopolitics and central bank expectations

US dollar stabilizes as September Fed hike bets remain subdued. Market volatility stays low, but thin liquidity could amplify movements. Key UK data could challenge pound strength; euro craves bullish catalysts.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.