Pound Sterling Price News and Forecast: GBP/USD prints fresh highs on BoE expectations

FXStreet Team FXStreet

GBP/USD prints fresh highs on BoE expectations

At 1.3490, GBP/USD is trading near to the highs of the day that came in just shy of 1.3495. The pair has moved from a low of 1.3396 and climbed to a one-week high after data showed UK inflation surged to a 10-year high last month. The pound is firmer across the board due to the expectations of an interest rate hike as early as next month following a week, so far, of better than expected data. On Tuesday, for instance, UK data showed Britain's job market withstood the end of the government's furlough scheme. Read more...

GBP/USD

Overview
Today last price	1.3492
Today Daily Change	0.0070
Today Daily Change %	0.52
Today daily open	1.3422

Trends
Daily SMA20	1.3611
Daily SMA50	1.3651
Daily SMA100	1.3729
Daily SMA200	1.384

Levels
Previous Daily High	1.3473
Previous Daily Low	1.3405
Previous Weekly High	1.3607
Previous Weekly Low	1.3353
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3447
Daily Fibonacci 61.8%	1.3431
Daily Pivot Point S1	1.3394
Daily Pivot Point S2	1.3366
Daily Pivot Point S3	1.3327
Daily Pivot Point R1	1.3462
Daily Pivot Point R2	1.3501
Daily Pivot Point R3	1.3529

GBP/USD Forecast: Bulls eye Brexit headlines after hot UK inflation data

GBP/USD has edged higher in the early European session on Wednesday with the latest data from the UK revealing that inflation was stronger than expected in October. The pair seems to be struggling to push higher, however, suggesting that investors are focused on Brexit headlines rather than the market pricing of a strong probability of a Bank of England (BoE) rate hike in December. Read more...

GBP/USD analysis: Encounters SM

The GBP/USD currency exchange rate reached and pierced the resistance of the 200-hour simple moving average at mid-day on Wednesday. Previously, during the morning hours of the day, the rate declined and shortly traded below the support of the 100-hour SMA. Meanwhile, analysts spotted a channel-up pattern on the rate's hourly candle chart. Read more...

Author

FXStreet Team

FXStreet

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.