Pound Sterling Price News and Forecast: GBP/USD is oscillating in a narrow range below 1.2500

FXStreet Team FXStreet

GBP/USD Price Analysis: Bears could be about to make their moves

GBP/USD bulls are moving in from key support. Bears could be lurking around a 50% mean reversion. GBP/USD is correcting into a potential resistance area. Read more...

GBP/USD juggles below 1.2500 as investors await Fed’s rate policy and US ADP job data

The GBP/USD pair is showing back-and-forth action in a narrow range below the psychological resistance of 1.2500 in the early Asian session. The Cable is demonstrating a volatility contraction, however, a power-pack action is expected ahead of the interest rate decision by the Federal Reserve (Fed) and the United States Automatic Data Processing (ADP) Employment data.

S&P500 futures have added more losses in early Asia as anxiety among market participants ahead of the Fed’s interest rate policy is deepening. An elevation in the risk aversion market mood is expected to impact risk-sensitive assets further. Read more...

GBP/USD

Overview
Today last price	1.2503
Today Daily Change	0.0007
Today Daily Change %	0.06
Today daily open	1.2496

Trends
Daily SMA20	1.2455
Daily SMA50	1.226
Daily SMA100	1.2214
Daily SMA200	1.1942

Levels
Previous Daily High	1.2571
Previous Daily Low	1.2481
Previous Weekly High	1.2584
Previous Weekly Low	1.2387
Previous Monthly High	1.2584
Previous Monthly Low	1.2275
Daily Fibonacci 38.2%	1.2515
Daily Fibonacci 61.8%	1.2536
Daily Pivot Point S1	1.2461
Daily Pivot Point S2	1.2426
Daily Pivot Point S3	1.2371
Daily Pivot Point R1	1.2551
Daily Pivot Point R2	1.2606
Daily Pivot Point R3	1.2642

Author

FXStreet Team

FXStreet

EUR/USD trims gains, reclaims 1.1600 and beyond

Following an earlier drop to yearly lows around 1.1530, EUR/USD now manages to recoup part of the ground lost and reclaim the area above 1.1600 the figure in the latter part of the NA session on Tuesday. Meanwhile, the pair’s marked retracement comes in response to the unabate march norht in the US Dollar, always propped up by the intense flight-to-safety environment amid the deteriorating geopolitical landscape in the Middle East.

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.