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

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold defends bids as US-Iran war continues to fuel safe-haven flows

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar keeps the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.