Pound Sterling Price News and Forecast: GBP/USD plunges but stays afloat above 1.2900

FXStreet Team FXStreet

GBP/USD plunges but stays afloat above 1.2900 amid cooling inflation in the UK

GBP/USD plunged after the release of inflation figures in the United Kingdom (UK), extending its losses during the North American session, briefly touching the 20-day EMA below the 1.2900 figure. Still, soft US economic data triggered a recovery above the latter. The GBP/USD trades at 1.2914, losses 0.93%. Read More...

Pound Sterling continues declining trend as UK inflation loses stickiness

The Pound Sterling (GBP) attracts significant offers as the United Kingdom’s June inflation report has turned out much softer than expected. The GBP/USD pair slipped swiftly below the psychological support of 1.3000 after the data release, and it is expected to deliver more weakness. The monthly headline Consumer Price Index (CPI) expanded at a negligible pace of 0.1% in June as households and firms face the burden of higher interest rates from the Bank of England (BoE). Read More...

GBP/USD: Recent strength could end below 1.3000 – UOB

The upside momentum in GBP/USD is expected to mitigate below the 1.3000 yardsticks, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.293
Today Daily Change	-0.0106
Today Daily Change %	-0.81
Today daily open	1.3036

Trends
Daily SMA20	1.2823
Daily SMA50	1.2637
Daily SMA100	1.2481
Daily SMA200	1.2221

Levels
Previous Daily High	1.3126
Previous Daily Low	1.3028
Previous Weekly High	1.3142
Previous Weekly Low	1.275
Previous Monthly High	1.2848
Previous Monthly Low	1.2369
Daily Fibonacci 38.2%	1.3066
Daily Fibonacci 61.8%	1.3089
Daily Pivot Point S1	1.3001
Daily Pivot Point S2	1.2966
Daily Pivot Point S3	1.2903
Daily Pivot Point R1	1.3099
Daily Pivot Point R2	1.3161
Daily Pivot Point R3	1.3196

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 keeps range around 1.3600 amid a pause in USD sell-off

GBP/USD holds its retreat from its highest level since May 11, ranging around the 1.3600 mark in the European session on Thursday. US Dollar sellers take a breather as markets assess whether the US Treasury buyback will be a game-changer. Attention now remains on US data and Middle East headlines for further trading impetus.

EUR/USD consolidates below 1.1700 as USD stabilizes

EUR/USD enters a bullish consolidation phase below 1.1700 in European trading on Thursday after touching its highest level since late May. Bulls now await a move beyond the 1.1700 mark before placing fresh bets, as the US Dollar stabilizes following the US Treasury's bond buyback plan-led slump. US Jobless Claims data are next in focus amid lingering Iran risks.

Gold sticks to losses below $4,500 as USD firms on hawkish FOMC minutes and Iran risks

Gold sticks to modest intraday losses through the Asian session and currently trades below the $4,500 mark, though it remains close to the highest level since early June, set earlier this Thursday. Against the backdrop of geopolitical uncertainties, the US Dollar stabilizes after the previous day’s slump to a three-month low amid hawkish FOMC Minutes. This prompts bulls to take some profits off the table and weighs on the bullion, though retreating US bond yields limit further downside.

Top Altcoins Price Forecast: Ripple rallies above $1, Solana eyes $85, Cardano eases gains

Top altcoins, such as Ripple, Solana, and Cardano, are holding steady on Thursday after a bullish rebound as the broader crypto market rebounds on US Treasury bond buybacks. The technical outlook for XRP and SOL suggests further upside, while ADA risks losing the recent gains. Ripple trades around $1.0951 following a 10% surge the previous day.

The bond coup

Yesterday was marked by a coup from the US Treasury, which suddenly announced that it will ‘at least double’ the maximum size of its buyback operations for longer-term debt, hoping to ease pressure on long-term yields and borrowing costs. Phoah! The markets reacted heavily to the news. The US 10-year yield fell sharply, while the 30-year yield dropped from its highest levels since 2007.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.