Pound Sterling Price News and Forecast: GBP/USD reached 7-week highs

FXStreet Team FXStreet

GBP/USD reached 7-week highs and remains volatile amidst Fed’s dovish hike

The GBP/USD is rallying sharply after the US Federal Reserve raised rates by 25 bps. Federal Reserve officials updated its dot-plot, with 10 out of 18 policymakers expecting another 25 bps rate hike by the end of the year. At the time of typing, the GBP/USD is trading volatile within the 1.2240-1.2300 range as traders brace for Fed’s Powell press conference. Read More...

GBP/USD erases post-UK CPI gains ahead of Fed's decision

The GBP/USD retreated more than 70 pips from the six-week high it reached earlier of 1.2297 and dropped to 1.2218 as Pound's momentum following UK CPI faded, ahead of the Federal Reserve's decision. Read More...

GBP/USD

Overview
Today last price	1.2273
Today Daily Change	0.0056
Today Daily Change %	0.46
Today daily open	1.2217

Trends
Daily SMA20	1.2046
Daily SMA50	1.2144
Daily SMA100	1.2064
Daily SMA200	1.1893

Levels
Previous Daily High	1.2283
Previous Daily Low	1.2179
Previous Weekly High	1.2204
Previous Weekly Low	1.201
Previous Monthly High	1.2402
Previous Monthly Low	1.1915
Daily Fibonacci 38.2%	1.2218
Daily Fibonacci 61.8%	1.2243
Daily Pivot Point S1	1.217
Daily Pivot Point S2	1.2122
Daily Pivot Point S3	1.2066
Daily Pivot Point R1	1.2274
Daily Pivot Point R2	1.233
Daily Pivot Point R3	1.2378

GBP/USD Price Analysis: Builds on UK CPI-inspired rally, climbs to 1.2300 ahead of FOMC

The GBP/USD pair catches fresh bids on Wednesday and the buying interest picks up pace during the first half of the European session in reaction to the strong UK consumer inflation figures. The momentum lifts spot prices to a fresh high since February 02, with bulls now awaiting a sustained strength beyond the 1.2300 mark before positioning for any further appreciating move. Read More...

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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.

AUD/USD tests 0.7000 as RBA hike looms amid risk-off mood

The Australian Dollar began the week on a lower note against the US Dollar, at around 0.7000, as depicted in the AUD/USD daily chart, as investors brace for the Reserve Bank of Australia monetary policy decision following optimistic US economic data.

USD/JPY climbs to 158.00 neighborhood as BoJ uncertainty weighs on the JPY

The USD/JPY pair gains some positive traction at the start of a new week, recovering further from Friday's post-Bank of Japan (BoJ) swing low to sub-157.00 levels. The momentum lifts spot prices to the 158.00 neighborhood during the Asian session and seems unaffected by fresh intervention warning from Japan's Finance Minister Satsuki Katayama.

Gold recovers on positive US-Iran headlines

Gold extends its recovery during American trading hours on Monday, supported by falling Oil prices following positive headlines on US-Iran talks. The metal regains ground after hitting a fresh yearly low of $3,870 on Friday and ending October down 6.87%. However, the rebound lacks conviction as the fundamental backdrop continues to raise doubts over a sustained recovery.

RBA expected to raise interest rate to 4.85%

The Reserve Bank of Australia will announce its monetary policy decision on Tuesday and is widely anticipated to raise the Official Cash Rate by 25 basis points to 4.85% from 4.6%. If the RBA delivers as expected, it will be the fifth interest rate hike of 2026, and the OCR will hit an 18-year high.

Strong iPhone sales fortify Apple's Q4 result

A robust fourth-quarter for Apple's iPhone sales helped the tech titan beat Wall Street's consensus on Monday. Apple reported $57.58 billion in iPhone sales in Q4, beating the average analyst estimate by more than a billion. However, AAPL stock shed close to 4% afterhours despite the top and bottom line beat.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.