Pound Sterling Price News and Forecast: GBP/USD holding above 1.2700

FXStreet Team FXStreet

GBP/USD holding above 1.2700 after US PCE inflation keeps rate cut hopes pinned to the ceiling

The GBP/USD is on the high side amidst some rough chop in the US market session, holding above the 1.2700 handle the pair reclaimed during the European trading window after the UK reported better-than-expected Retail Sales in November. Read More...

Pound Sterling eyes more upside on upbeat UK Retail Sales, soft US core PCE data

The Pound Sterling (GBP) extends its recovery on Friday, supported by upbeat UK Retail Sales data for November. The Office for National Statistics (ONS) reported that households’ retail spending surprisingly remained positive compared with the previous year, while market participants projected a sharp decline. Strong Retail Sales were boosted by a 2.8% increase in non-food retail stores as major discounts were offered amid the Black Friday Sale. Read More...

GBP/USD

Overview
Today last price	1.2722
Today Daily Change	0.0034
Today Daily Change %	0.27
Today daily open	1.2688

Trends
Daily SMA20	1.2638
Daily SMA50	1.2422
Daily SMA100	1.2449
Daily SMA200	1.2514

Levels
Previous Daily High	1.2696
Previous Daily Low	1.2612
Previous Weekly High	1.2794
Previous Weekly Low	1.2501
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2664
Daily Fibonacci 61.8%	1.2644
Daily Pivot Point S1	1.2635
Daily Pivot Point S2	1.2582
Daily Pivot Point S3	1.2551
Daily Pivot Point R1	1.2718
Daily Pivot Point R2	1.2749
Daily Pivot Point R3	1.2802

GBP/USD Price Analysis: The immediate upside barrier is seen at 1.2740

The GBP/USD pair struggles to gain ground during the early European session on Friday. The major pair remains capped below the 1.2700 psychological mark ahead of the top-tier economic data from both the United Kingdom (UK) and the United States (US). At press time, GBP/USD is trading at 1.2682, down 0.04% on the day. Read More...

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FXStreet Team

FXStreet

EUR/USD falls to near 1.1600 due to persistent bearish bias

EUR/USD depreciates after registering modest gains in the previous session, trading around 1.1610 during the Asian hours on Thursday. The technical analysis of the daily chart suggests a persistent bearish bias as the EUR/USD pair remains within the descending channel pattern.

GBP/USD underperforms as UK faces stagflation risks amid Middle East war

The Pound Sterling trades lower against its major currency peers, is down 0.22% around 1.3340 against the US Dollar, during the Asian trade on Thursday. The British currency faces selling pressures amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, a situation in which inflation accelerates with economic growth and employment conditions remaining stagnant.

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Bitcoin trades above $72,500 at press time on Thursday, holding its 6% gain from the previous day, contributing to a broader market recovery. The total cryptocurrency market capitalization stands at over $2.43 trillion as the broader market sentiment improves significantly.

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