Pound Sterling Price News and Forecast: GBP/USD loses ground following strong labor market data from the US

FXStreet Team FXStreet

GBP/USD loses ground following strong labor market data from the US

On Thursday, the GBP/USD pair declined towards the 1.2615 level showing slight losses with upbeat US labor market figures benefiting the Greenback with Jobless claims from the week ending on February 3 coming in lower than expected. However, the Bank of England (BoE) holds a somewhat similar stance as the Federal Reserve (Fed) in delaying rate cuts so the losses may be limited. Read More...

Pound Sterling falls sharply as geopolitical tensions deepen

The Pound Sterling (GBP) faces sharp selling pressure in Thursday’s early New York session. Investors rush for safe-haven assets as Israel’s Prime Minister Benjamin Netanyahu has rejected the proposal of a ceasefire with Hamas. The Israeli leader said the complete destruction of Hamas is a few months away. Read More...

GBP/USD

Overview
Today last price	1.2614
Today Daily Change	-0.0011
Today Daily Change %	-0.09
Today daily open	1.2625

Trends
Daily SMA20	1.2685
Daily SMA50	1.2677
Daily SMA100	1.248
Daily SMA200	1.2565

Levels
Previous Daily High	1.2642
Previous Daily Low	1.2594
Previous Weekly High	1.2773
Previous Weekly Low	1.2614
Previous Monthly High	1.2786
Previous Monthly Low	1.2597
Daily Fibonacci 38.2%	1.2624
Daily Fibonacci 61.8%	1.2612
Daily Pivot Point S1	1.2599
Daily Pivot Point S2	1.2572
Daily Pivot Point S3	1.2551
Daily Pivot Point R1	1.2647
Daily Pivot Point R2	1.2668
Daily Pivot Point R3	1.2695

GBP/USD Price Analysis: Extends gains towards 1.2650 major barrier aligned with 14-day EMA

GBP/USD continues the winning streak for the straight third session, edging higher to near 1.2630 during the Asian session on Thursday. The GBP/USD pair receives upward support as the US Dollar (USD) faces challenges against the Pound Sterling (GBP), which could be attributed to the downbeat US yields amid an improved risk-on sentiment. Read More...

Author

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.

GBP/USD remains offered near 1.3470

GBP/USD adds to the multi-day negative streak and retreats toward the 1.3470 zone on Wednesday, or four-week troughs. Cable’s deep correction comes on the back of the unabated recovery in the Greenback and the persistent geopolitical concerns.

EUR/USD bounces off lows; still below 1.1600 post-ADP

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