Pound Sterling Price News and Forecast: GBP/USD is consolidating around 1.2440 ahead of UK Retail Sales

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GBP/USD continues to juggle around 1.2440 ahead of UK Retail Sales

The GBP/USD pair is continuously oscillating in a narrow range around 1.2440 in the Tokyo session. The Cable is struggling to find a decisive move as investors are awaiting the release of the United Kingdom Retail Sales data for further guidance.

A flat-to-positive performance has been recorded for the S&P500 futures in the Asian session. US equities were beaten down on Thursday amid mixed earnings from the banking sector and weak revenue guidance from Tesla. The overall market mood is risk-averse, however, a stock-specific action is highly active. Read more...

GBP/USD Price Analysis: Bears take on critical trendline support

GBP/USD bears are moving in with eyes on 1.2350s, GBP/USD is carving out a topping formation and we have seen what could be the basis of a peak formation starting to be put into place in the lower time frames.

The resistance was holding up the price near 1.2550 and again at 1.2470 near a 61.8% Fibonacci retracement level. Read more...

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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.

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