Pound Sterling Price News and Forecast: GBP/USD no signs of life in pound sterling

FXStreet Team FXStreet

GBP/USD falls to new four-day lows on a soft US jobs report as the US Dollar climbs

GBP/USD tumbles on a worse-than-expected US Nonfarm Payrolls report, with the US economy adding fewer jobs than analysts’ consensus. However, the initial reaction favored the US Dollar (USD). At the time of writing, the GBP/USD trades volatile around the 1.2450-1.2370 range, below its opening price.

Delving into March’s Nonfarm Payrolls data, the US Bureau of Labor Statistics (BLS) revealed the creation of fewer than 240K employments estimated, increased by 236, and trailed February’s 311K. Average Hourly Earnings, estimated at 4.3%, came at 4.2%, and the Unemployment Rate was at 3.5%YoY, below the expected 3.6%. Read more...

GBP/USD Forecast: No signs of life in Pound Sterling

GBP/USD has gone into a consolidation phase a few pips below 1.2450 after having closed in negative territory for the second day in a row on Thursday. Thin trading volumes on Good Friday are likely to force the pair to remain directionless even after the March jobs report from the United States. On a weekly basis, GBP/USD looks to post gains for the fourth straight time.

Although Wall Street's main indexes managed to close marginally higher on Thursday, the US Dollar (USD) didn't have a difficult time staying resilient against its rivals, supported by the modest recovery seen in the US Treasury bond yields. Read more...

GBP/USD clings to mild gains around mid-1.2400s amid BoE vs. Fed talks ahead of US NFP

GBP/USD seesaws around 1.2155-60 while printing the first daily gains in three amid early Good Friday morning in London. In doing so, the Cable pair cheers hawkish hopes from the Bank of England (BoE) while also portraying the cautious mood ahead of the key US Nonfarm Payrolls (NFP).

Andrew Goodwin, Chief UK Economist at Oxford Economics suggests another 0.25% rate hike from the “Old Lady”, as the BoE is informally known, amid persistent inflation pressure. Read more...

GBP/USD

Overview
Today last price	1.2416
Today Daily Change	-0.0024
Today Daily Change %	-0.19
Today daily open	1.244

Trends
Daily SMA20	1.2274
Daily SMA50	1.2155
Daily SMA100	1.2154
Daily SMA200	1.1901

Levels
Previous Daily High	1.2487
Previous Daily Low	1.2413
Previous Weekly High	1.2424
Previous Weekly Low	1.2219
Previous Monthly High	1.2424
Previous Monthly Low	1.1803
Daily Fibonacci 38.2%	1.2441
Daily Fibonacci 61.8%	1.2459
Daily Pivot Point S1	1.2406
Daily Pivot Point S2	1.2372
Daily Pivot Point S3	1.2332
Daily Pivot Point R1	1.248
Daily Pivot Point R2	1.2521
Daily Pivot Point R3	1.2554

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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.