Pound Sterling Price News and Forecast: GBP/USD loses the 20-day SMA post US NFP

FXStreet Team FXStreet

GBP/USD loses the 20-day SMA post US NFP

The GBP/USD fell more than 0.50% to a daily low of 1.2453 at the end of the week, following robust labor market data from the US, indicating a possible reconsideration of further rate hikes by the Federal Reserve (Fed). As a result, the US Dollar strengthened due to rising US bond yields, while the Sterling Pound continued to face selling pressure while the British economic calendar had nothing relevant to offer. Read More...

GBP/USD reverses the post-NFP dip, flat-lines above 1.2500 amid subdued USD price action

The GBP/USD pair pulls back from a two-and-half-week high, around the 1.2545 region, touched this Friday and extends its steady intraday descent through the early North American session. Spot prices slip below the 1.2500 psychological mark, hitting a fresh daily low in reaction to the mixed US employment details, albeit lacks follow-through and recovers a few pips in the last hour. Read More...

GBP/USD consolidates its recent gains to nearly three-week peak, US NFP report awaited

The GBP/USD pair enters a bullish consolidation phase near a two-and-half-week high touched on Friday and oscillates in a narrow band, around the 1.2530-1.2535 region through the first half of the European session. Read More....

GBP/USD

Overview
Today last price	1.2452
Today Daily Change	-0.0072
Today Daily Change %	-0.57
Today daily open	1.2524

Trends
Daily SMA20	1.2472
Daily SMA50	1.2449
Daily SMA100	1.2298
Daily SMA200	1.1991

Levels
Previous Daily High	1.254
Previous Daily Low	1.2401
Previous Weekly High	1.2472
Previous Weekly Low	1.2308
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.2487
Daily Fibonacci 61.8%	1.2454
Daily Pivot Point S1	1.2437
Daily Pivot Point S2	1.235
Daily Pivot Point S3	1.2298
Daily Pivot Point R1	1.2575
Daily Pivot Point R2	1.2627
Daily Pivot Point R3	1.2714

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 weakens to two-week lows near 1.3520

GBP/USD trades on the back foot, returning to the low 1.3500s, or two-week troughs, on Tuesday. Cable’s bearish price action follows decent gains in the Greenback at the time when investors assess latest US data releases and the persistent uncertainty in the US-Iran crisis.

EUR/USD remains offered; breaks below 1.1600

EUR/USD now accelerates its daily correction, breaching below the key 1.1600 support level on Tuesday. The pair’s daily correction comes on the back of a decent bounce in the US Dollar despite disappointing US data releases and amid persistent geopolitical concerns.

Gold flirts with multi-week lows near $4,300

Gold accelerates its correction and recedes toward the key $4,300 mark per troy ounce on Tuesday. The yellow metal’s persistent decline comes in response to the solid performance of the US Dollar and a sharp move higher in US Treasury yields across the curve.

RBNZ set to raise interest rate to 2.75%

The Reserve Bank of New Zealand (RBNZ) is on track to deliver a follow-through interest rate hike, raising the Official Cash Rate (OCR) by another 25 basis points (bps) from 2.50% to 2.75% on Wednesday. Experts expect a consensus decision this week, unlike a deeply divided outcome predicted during the July monetary policy meeting.

Global bond market sell off haunts markets

Global sovereign bonds are selling off as we start a new month. The UK is, unsurprisingly, taking the biggest hit. Two and 10-year yields rose by 10 basis points at one point on Tuesday, and are currently higher by 7 and 8bps respectively.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.