Pound Sterling Price News and Forecast: GBP/USD pound Sterling tests key support

FXStreet Team FXStreet

GBP bounces back

The high beta pound edges higher on improved market sentiment. A surge above 1.2080 has prompted short-term sellers to cover their positions. This could be the signal the bulls have been waiting for after the pair drifted lower in search of support. As the RSI returns to the neutrality area, the supply-turned-demand zone around 1.2050 is the first level to expect follow-up bids. 1.1900 is a critical support in case of a deeper pullback. On the upside, a close above 1.2300 could pave the way for a bullish reversal in the medium-term. Read more...

GBP/USD Forecast: Pound Sterling tests key support

After having staged a technical correction on Tuesday, GBP/USD has edged slightly lower in the early European morning on Wednesday. Nevertheless, the pair manages to hold slightly above the key support level that is located at 1.2140. If that level fails, additional losses could be witnessed in the near term.

The improving market mood seems to be helping GBP/USD limit its losses for the time being. As of writing, the UK's FTSE 100 Index was rising 0.6% on the day and US stock index futures were up modestly. Amid a lack of fundamental drivers and high-tier data releases, however, investors could stay on the sidelines and Wall Street's main indexes could have a hard time making a decisive move in either direction. Read more...

GBP/USD slides below mid-1.2100s, downside seems cushioned amid subdued USD demand

The GBP/USD pair struggles to capitalize on its modest intraday uptick and attracts some sellers near the 1.2175-1.2180 region on Wednesday. Spot prices slide back below mid-1.2100s during the first half of the European session, though remain well within the previous day's broader trading range.

A bleak outlook for the UK economy has been fueling speculations that the Bank of England (BoE) is nearing the end of the current rate-hiking cycle and undermines the British Pound. This, in turn, is seen as a key factor acting as a headwind for the GBP/USD pair, though subdued US Dollar price action helps limit the downside, at least for the time being. Read more...

GBP/USD

Overview
Today last price	1.2112
Today Daily Change	-0.0040
Today Daily Change %	-0.33
Today daily open	1.2152

Trends
Daily SMA20	1.2096
Daily SMA50	1.1984
Daily SMA100	1.1676
Daily SMA200	1.201

Levels
Previous Daily High	1.2199
Previous Daily Low	1.211
Previous Weekly High	1.2102
Previous Weekly Low	1.1841
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.2144
Daily Fibonacci 61.8%	1.2165
Daily Pivot Point S1	1.2108
Daily Pivot Point S2	1.2065
Daily Pivot Point S3	1.202
Daily Pivot Point R1	1.2197
Daily Pivot Point R2	1.2242
Daily Pivot Point R3	1.2285

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 retreats below 1.1750 on modest USD recovery

EUR/USD stays under modest bearish pressure and trades below 1.1750 on Friday. Although trading conditions remain thin following the New Year holiday and ahead of the weekend, the modest recovery seen in the US Dollar causes the pair to edge lower. The economic calendar will not feature any high-impact data releases.

GBP/USD struggles to gain traction, stabilizes above 1.3450

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and moves sideways above 1.3450 as market participants remain in holiday mood.

Gold climbs toward $4,400 following deep correction

Gold reverses its direction and advances toward $4,400 after suffering heavy losses amid profit-taking before the New Year holiday. Growing expectations for a dovish Fed policy and persistent geopolitical risks seem to be helping XAU/USD stretch higher.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

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.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).