Pound Sterling Price News and Forecast: GBP/USD Inflation boost?


GBP/USD outlook: Upbeat inflation and labor data support sterling for break

Cable remains within choppy and narrowing range on Thursday, despite strong UK inflation and labor data, as well as dovish tone from Fed’s chief Powell.

Improving conditions in the UK labor sector suggest that economic recovery is gaining pace, with expectations of lifting almost all Covid-19 restrictions on July 19, expected to further boost the sentiment.

The inflation in the UK rose in June to the highest since August 2018, adding to signals that the BoE may take an action earlier than expected, although the central bank would assess if inflationary pressure is transitory, before calling on raising interest rates and start tightening money supply to the economy. Read more...

GBPUSD

GBP/USD Forecast: Inflation boost? Not so fast, sterling may suffer while BOE looks the other way

No rush – that has been the message from central banks on both sides of the Atlantic, which has been providing negative for cable. Four days before "Freedom Day," sterling has another reason to struggle as covid cases surge.

Federal Reserve Chair Jerome Powell said the US economy is still "a ways off" to a level that warrants tapering down the bank's bond-buying scheme. Moreover, Powell insisted that rising prices are reopening-related, and thus temporary – even as he acknowledged they could persist for a few months. US consumer prices are up 5.4% YoY in June and producer prices leaped 1% last month. All these recent figures beat estimates. Read more...

GBPUSD

GBP/USD surrenders intraday gains, flat-lined above mid-1.3800s ahead of US data

The GBP/USD pair shot to the 1.3900 neighbourhood, or fresh daily tops in the last hour, albeit quickly retreated few pips thereafter. The pair was last seen trading just above mid-1.3800s, nearly unchanged for the day.

Following an early dip to the 1.3815-10 region, the GBP/USD pair witnessed a dramatic turnaround on Thursday and rallied back closer to the top end of its weekly trading range. The strong intraday rally of around 85 pips was sponsored by hawkish comments by the BoE policymaker, Michael Saunders. During a scheduled speech at an online event, Saunders said that the question of whether to curtail our current asset purchase program earlier will be under consideration at our forthcoming meetings. Read more...

GBP/USD

Overview
Today last price 1.3865
Today Daily Change 0.0005
Today Daily Change % 0.04
Today daily open 1.386
 
Trends
Daily SMA20 1.3861
Daily SMA50 1.4018
Daily SMA100 1.3938
Daily SMA200 1.3687
 
Levels
Previous Daily High 1.3892
Previous Daily Low 1.3802
Previous Weekly High 1.3908
Previous Weekly Low 1.3742
Previous Monthly High 1.4249
Previous Monthly Low 1.3787
Daily Fibonacci 38.2% 1.3857
Daily Fibonacci 61.8% 1.3836
Daily Pivot Point S1 1.3811
Daily Pivot Point S2 1.3761
Daily Pivot Point S3 1.372
Daily Pivot Point R1 1.3901
Daily Pivot Point R2 1.3942
Daily Pivot Point R3 1.3991

 

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