Pound Sterling Price News and Forecast: GBP/USD rally breaks 1.3100 barrier amid soft US PPI data

FXStreet Team FXStreet

GBP/USD rally breaks 1.3100 barrier amid soft US PPI data

GBP/USD rallies past the 1.3100 mark and is gaining close to 1% on Thursday, as overall US Dollar (USD) weakness extended amid speculations the Federal Reserve (Fed) is closing to finishing its tightening cycle after June’s PPI and CPI data was softer than expected. The GBP/USD is exchanging hands at 1.3111 after hitting a daily low of 1.2979. Read More...

Pound Sterling faces mild pressure despite US PPI follows footprints of soft inflation

The Pound Sterling (GBP) has climbed to 1.3080, continuing its five-day winning spell despite the rising burden of higher interest rates by the Bank of England (BoE) on the United Kingdom’s manufacturing sector. The GBP/USD pair has been filled with an adrenaline rush as the market mood has turned extremely cheerful, and the BoE is expected to continue its policy-tightening spell in spite of building pressure on the economic outlook. Read More...

GBP/USD shifts the focus to 1.3100 – UOB

UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest GBP/USD could revisit 1.3100 in the not-so-distant future. Read More...

GBP/USD

Overview
Today last price	1.3121
Today Daily Change	0.0134
Today Daily Change %	1.03
Today daily open	1.2987

Trends
Daily SMA20	1.2764
Daily SMA50	1.2599
Daily SMA100	1.2438
Daily SMA200	1.2181

Levels
Previous Daily High	1.3001
Previous Daily Low	1.2904
Previous Weekly High	1.285
Previous Weekly Low	1.2659
Previous Monthly High	1.2848
Previous Monthly Low	1.2369
Daily Fibonacci 38.2%	1.2964
Daily Fibonacci 61.8%	1.2941
Daily Pivot Point S1	1.2927
Daily Pivot Point S2	1.2867
Daily Pivot Point S3	1.283
Daily Pivot Point R1	1.3024
Daily Pivot Point R2	1.306
Daily Pivot Point R3	1.312

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 stays slightly offered below 1.3600

Following an initial drop to fresh six-day lows, GBP/USD now picks up some updside traction and trades in levels just shy of the 1.3600 barrier on Thursday. The generalised cautious tone among market participants continue to underpin the Greenback ahead of Friday’s data releases and the Fed Warsh’s speech.

EUR/USD struggles for direction around 1.1650

EUR/USD gyrates around the 1.1650 region amid the absence of clear direction and following an earlier drop to the 1.630 area. The pair’s vacillating mood comes in response to the equally irresolute price action in the US Dollar as investors warm up for the release of the NFP Annual Revision and the speech by the Fed’s Warsh at the Jackson Hole Symposium, both events due on Friday.

Gold recovers $4,600, buyers unwilling to give up

Gold adds to Wednesday’s pullback, although it manages to pick up some pace and come closer to the $4,600 mark per troy ounce on Thursday. In the meantime, the yellow metal remains on the back foot despite the widespread caution and the lack of clear direction of the US Dollar.

Ripple rebounds as whales accumulate 460 million XRP

Ripple (XRP) holds above $1.40 support on Wednesday, as bulls return to take control following three consecutive days of declines. The remittance token’s upside appears capped at $1.50 while extended gains would face additional resistance at $1.70. A break above $2.00 would mark a potential regime shift from bearish to bullish.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.