Pound Sterling Price News and Forecast: GBP/USD holds onto weekly gains, near 1.2500

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Will the recovery sustain above 21 DMA?

Bulls were finally rescued, as GBP/USD stalled its four-week downtrend and rebounded firmly from two-year lows of 1.2155 reached a week ago. A temporary bottom seemed in place, with the 400+ pips recovery, as the US dollar embarked on an overdue correction. The currency pair then flirted with the 1.2500 threshold ahead of BOE Governor Andrew Bailey’s appearance and critical US data. Read more...

GBP/USD holds onto weekly gains, near 1.2500

The GBP/USD is moving sideways on Friday, consolidating slightly below 1.2500. The pair remained steady even as stocks in Wall Street turned negative. Risk aversion is offering no boost to the dollar. The pound is rising versus the US dollar for the first time in five weeks as it recovers from the lowest level in almost two years and following a 900 pips slide. The main trend is still bearish for GBP/USD. The pair moved off YTD lows giving signs of an interim bottom. The recovery appears to have room to go, particularly is financial tensions across global markets ease. Read more...

GBP/USD

Overview
Today last price	1.2494
Today Daily Change	0.0028
Today Daily Change %	0.22
Today daily open	1.2466

Trends
Daily SMA20	1.2453
Daily SMA50	1.2839
Daily SMA100	1.3167
Daily SMA200	1.3368

Levels
Previous Daily High	1.2525
Previous Daily Low	1.2337
Previous Weekly High	1.2406
Previous Weekly Low	1.2155
Previous Monthly High	1.3167
Previous Monthly Low	1.2411
Daily Fibonacci 38.2%	1.2453
Daily Fibonacci 61.8%	1.2409
Daily Pivot Point S1	1.2361
Daily Pivot Point S2	1.2256
Daily Pivot Point S3	1.2174
Daily Pivot Point R1	1.2548
Daily Pivot Point R2	1.263
Daily Pivot Point R3	1.2736

Pound yawns on mixed Retail Sales

UK retail sales showed a strong gain in April, with a gain of 1.4% MoM. This followed a decline of 1.2% in March. However, on a yearly basis, sales volumes were 4.9% lower, as the broader picture looks grim. The monthly gain for March may have been a blip, as consumers were hit with higher household energy costs as well as an increase in taxes. Add into the mix inflation at 9.0% and possibly heading into double-digits, and it’s difficult to envision retail sales moving higher. Read more...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.