Pound Sterling Price News and Forecast: GBP/USD pound needs to clear 1.2250 to stretch recovery

FXStreet Team FXStreet

GBP/USD consolidates the recovery above 1.2200 ahead of US data

GBP/USD is moving back and forth in a 20-pips range in the European session, defending minor bids just above the 1.2200 level.

The recovery attempt in the pair could be attributed to a broad pullback in the US dollar vs. its main rivals from the highest level in two decades just shy of the 105.00 mark.

The positive shift in risk sentiment, in the wake of Shanghai reopening news, is boding ill for the safe-haven dollar. Although the further upside in cable remains elusive, thanks to the ongoing rally in the US Treasury yields across the curve. Read more...

GBP/USD Forecast: Pound needs to clear 1.2250 to stretch recovery

GBP/USD has gone into a consolidation phase slightly above 1.2200 early Friday with the improving market mood keeping the dollar's gains in check. The pair, however, faces stiff resistance at 1.2250 and it might find it difficult to gather bullish momentum in case that level stays intact.

The disappointing data releases from the UK and Brexit jitters weighed on the British pound on Thursday. On the other hand, the risk-averse market environment and hawkish Fed commentary provided a boost to the greenback, causing the pair to slump to its weakest level in two years at 1.2165. Read more...

GBP/USD needs to clear the 1.2250 hurdle to extend its recovery

GBP/USD has stabilized above 1.22. The pair, however, faces stiff resistance at 1.2250 and it might find it difficult to gather bullish momentum in case that level stays intact, FXStreet’s Eren Sengezer reports.

“The University of Michigan's preliminary Consumer Sentiment Index for May will be featured in the US economic docket. If the upbeat market mood remains intact after this data, the US Dollar Index could extend its downward correction and help GBP/USD edge higher.” Read more...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.