Pound Sterling Price News and Forecast: GBP/USD halts decline and reclaims 1.2600

FXStreet Team FXStreet

GBP/USD halts decline and reclaims 1.2600 amid UK’s holiday and hawkish Fed

The British Pound (GBP) stopped its free-fall on Monday against the US Dollar (USD) amidst a UK Summer Bank Holiday, which spurred choppy trading amongst most FX pairs during the overlap of the London-New York session. At the time of writing, the GBP/USD is trading at 1.2601, gaining 0.19%. Read More...

Pound Sterling remains vulnerable as high inflation threatens economic outlook

The Pound Sterling (GBP) recovered after printing a fresh 14-week low, but the broader bias remains bearish as the British economy is exposed to a possible recession due to an aggressive rate-tightening cycle by the Bank of England (BoE). The GBP/USD pair communicates fears about rising interest rates as the tight labor market is losing its appeal, and firms have reported a decline in production due to a dismal demand outlook. Read More...

GBP/USD could revisit the 1.2480 region – UOB

Further downside in GBP/USD could extend the decline to the 1.2480 zone in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.2604
Today Daily Change	0.0024
Today Daily Change %	0.19
Today daily open	1.258

Trends
Daily SMA20	1.272
Daily SMA50	1.2788
Daily SMA100	1.264
Daily SMA200	1.24

Levels
Previous Daily High	1.2655
Previous Daily Low	1.2548
Previous Weekly High	1.28
Previous Weekly Low	1.2548
Previous Monthly High	1.3142
Previous Monthly Low	1.2659
Daily Fibonacci 38.2%	1.2589
Daily Fibonacci 61.8%	1.2614
Daily Pivot Point S1	1.2534
Daily Pivot Point S2	1.2488
Daily Pivot Point S3	1.2427
Daily Pivot Point R1	1.2641
Daily Pivot Point R2	1.2701
Daily Pivot Point R3	1.2747

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.

GBP/USD keeps the bid bias near 1.3550

GBP/USD leaves behind part of the recent three-day retracement and hovers around the 1.3550 region on Monday. The Greenback’s fresh downward trend helps Cable and the rest of the risk complex recoup part of the recent ground lost while attention remains on the potential Fed rate path.

EUR/USD reclaims 1.1600 and beyond

EUR/USD keeps pushing harder on Monday, this time surpassing the key 1.1600 hurdle. The pair’s rebound comes as the selling pressure on the US Dollar has been gathering further traction in the last few hours, at the time when investors continue to assess the likelihood of a Fed rate hike in September.

Gold: Is the bullish run over?

Gold adds to Friday’s marked decline, although it has managed to bounce off earlier lows in the sub-$4,400 region per troy ounce on Monday. The yellow metal’s pullback comes despite the softer stance in the US Dollar and steady uncertainty in the Middle East, although rising yields keep bulls at bay for now.

Crypto Today: Bitcoin, Ethereum, XRP broadly consolidate amid renewed US-Iran strikes

Bitcoin remains resilient above $78,000 as investors anticipate a renewed push toward $80,000. Ethereum continues to demonstrate a constructive technical setup, holding above $2,400. Ripple is exhibiting early signs of recovery near $1.37.

Oil rallies on fresh persian gulf strikes

Energy prices are trading firmer this morning after the US carried out targeted strikes against Iran, drawing retaliatory strikes and reinforcing concerns about a prolonged stalemate in the Persian Gulf. Oil prices started the week stronger following the first military strikes between the US and Iran in a month. ICE Brent briefly moved back above US$90/bbl in early morning Asia trading.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.