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...

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.

British Pound surges against US Dollar ahead of US NFP data

The British Pound trades 0.5% higher to near 1.3340 against the US Dollar during the European trading session on Thursday. The GBP/USD pair reflects strength as the US Dollar underperforms its peers ahead of the United States Nonfarm Payrolls data for June, which will be published at 12:30 GMT.

EUR/USD climbs above 1.1400 ahead of US NFP

EUR/USD trades in positive territory above 1.1400 in the European session on Thursday, supported by the renewed selling pressure surrounding the US Dollar. Investors await the June employment report from the US, which will feature the critical Nonfarm Payrolls data.

Gold extends recovery toward $4,100 ahead of key US data

Gold (XAU/USD) gathers bullish momentum and rises toward $4,100 in the European session on Thursday. The US Dollar (USD) stays under selling pressure and allows XAU/USD to push higher as market focus shifts to June employment data from the US.

Easing ETF flows and retail demand edge HYPE to make-or-break stage

Hyperliquid price continues to coil, struggling to find direction as it edges higher, after two consecutive days of losses. Institutional demand, a key driver for altcoins in recent times, eases for HYPE with minimal inflows following a $108 million surge last week. Easing retail demand doubles down on HYPE as Open Interest declines 4% in 24 hours.

Nonfarm Payrolls set to grow by over 100K in June, reinforcing bets of upcoming Fed rate hikes

The United States Bureau of Labor Statistics will release the Nonfarm Payrolls data for June on Thursday at 12:30 GMT. Investors expect NFP to rise by 110K following three consecutive months of surprisingly strong increases. Investors are pricing in a hawkish Federal Reserve policy outlook with the new Chairman Kevin Warsh at the helm.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.