Pound Sterling Price News and Forecast: GBP/USD is expecting a downside below 1.2060

FXStreet Team FXStreet

GBP/USD displays downside gestures below 1.2060 as risk-off triggers ahead of US Inflation

The GBP/USD pair has faced selling pressure around 1.2080 and is likely to display more losses on dropping below the major cushion of 1.2060. On a broader note, the cable has auctioned in a 1.2063-1.2138 range for the previous two trading sessions after a modest rebound from a low near the psychological support of 1.2000.

GBP/USD

Overview
Today last price	1.2075
Today Daily Change	-0.0004
Today Daily Change %	-0.03
Today daily open	1.2079

Trends
Daily SMA20	1.205
Daily SMA50	1.2158
Daily SMA100	1.2455
Daily SMA200	1.2933

Levels
Previous Daily High	1.213
Previous Daily Low	1.2063
Previous Weekly High	1.2294
Previous Weekly Low	1.2003
Previous Monthly High	1.2246
Previous Monthly Low	1.176
Daily Fibonacci 38.2%	1.2089
Daily Fibonacci 61.8%	1.2105
Daily Pivot Point S1	1.2051
Daily Pivot Point S2	1.2024
Daily Pivot Point S3	1.1985
Daily Pivot Point R1	1.2118
Daily Pivot Point R2	1.2158
Daily Pivot Point R3	1.2185

Pound edges higher, markets eye US inflation

The British pound has posted slight gains today. GBP/USD is trading in the European session at 1.2106, up 0.21% on the day. The economic calendar has been light so far this week. On Capitol Hill, the Biden Administration racked up a badly-needed victory ahead of the mid-terms, passing a domestic spending bill which covers climate change, health costs, and corporate taxes.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.