Pound Sterling Price News and Forecast: GBP/USD hit a 7-month high but dropped beneath 1.2380

FXStreet Team FXStreet

GBP/USD hit a 7-month high but dropped beneath 1.2380 as US bond yields rise

The Pound Sterling (GBP) is retreating after hitting a seven-month high at 1.2447, though it lacked the strength to hold to the 1.2400 figure and is meandering in the 1.2380s area. At the time of writing, the GBP/USD exchanges hands at 1.2375, below its opening price by a minimal margin. Read More...

GBP/USD Price Analysis: Bulls retreat from fresh seven-month high near 1.2450 inside rising wedge

GBP/USD struggles to defend the 1.2400 threshold during a five-day uptrend to Monday’s European session, after rising to the highest levels since June 2022 earlier in the day. Read More...

GBP/USD bulls dominate above 1.2400 as UK stimulus loom, US Dollar drops ahead of PMI, GDP data

GBP/USD news intraday top near 1.2435 as Cable buyers cheer the broadly down US Dollar and hopes of stimulus from UK Prime Minister (PM) Rishi Sunak during early Monday. In doing so, the Cable pair rises for the fifth consecutive day while poling the key resistance line stretched from early December 2022. Read More...

GBP/USD

Overview
Today last price	1.2367
Today Daily Change	-0.0028
Today Daily Change %	-0.23
Today daily open	1.2395

Trends
Daily SMA20	1.2143
Daily SMA50	1.211
Daily SMA100	1.1724
Daily SMA200	1.1978

Levels
Previous Daily High	1.2404
Previous Daily Low	1.2335
Previous Weekly High	1.2436
Previous Weekly Low	1.2169
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.2378
Daily Fibonacci 61.8%	1.2362
Daily Pivot Point S1	1.2352
Daily Pivot Point S2	1.2309
Daily Pivot Point S3	1.2283
Daily Pivot Point R1	1.2421
Daily Pivot Point R2	1.2447
Daily Pivot Point R3	1.249

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 defends 1.3300 after strong UK PMI data

Following Thursday's sharp decline, GBP/USD clings to small gains above 1.3300 in the American session on Friday, supported by the upbeat UK Retail Sales and July PMI data. Nevertheless, the pair's upside remains capped as investors cling to a cautious stance amid a further escalation of tensions in the Middle East. The US July PMI data failed to trigger relevant price action.

EUR/USD remains below 1.1400 after mixed US PMIs

EUR/USD pressures daily lows below the 1.1400 mark in the American session on Friday. Mixed S&P Global PMIs, as manufacturing output contracted while services activity expanded in July, triggered no relevant market reaction. The focus remains in Middle East developments and inflation-related concerns.

Gold holds above $4,050 but momentum still missing

Gold builds on its modest intraday bounce and climbs above the $4,050 level on Friday, hitting a fresh daily high amid a modest US Dollar pullback. The fundamental backdrop, however, warrants some caution before confirming that the pullback from an over two-week high, touched on Wednesday, has run its course and positioning for any meaningful upside.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

XRP retreats as ETF interest cools

Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.