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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.