Pound Sterling Price News and Forecast: GBP/USD rebounds back above 1.3000

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Downside risks remain intact ahead of a big week

GBP/USD booked the second straight week of losses, as bears refused to give in amid hawkish Fed-driven sentiment and risk-aversion. Cable touched its lowest level since November below 1.3000, as King dollar reigned supreme, partly buoyed by the US bond market rout. With UK and US inflation dropping next week, the downside risks for the currency pair remain intact. Read more...

GBP/USD rebounds back above 1.3000 after hitting lowest levels since November 2020

GBP/USD hit its lowest level since November 2020 at 1.29817 in earlier Friday trade, weighed at the time by a broad strengthening of the US dollar that say the DXY momentarily eclipse 100 for the first time in nearly two years. But the currency pair has since rebounded to around the 1.3030 level, erasing the day’s losses to about 0.3% versus around 0.7% at worst levels. Read more...

GBP/USD

Overview
Today last price	1.3016
Today Daily Change	-0.0061
Today Daily Change %	-0.47
Today daily open	1.3077

Trends
Daily SMA20	1.3123
Daily SMA50	1.3317
Daily SMA100	1.3368
Daily SMA200	1.3546

Levels
Previous Daily High	1.3107
Previous Daily Low	1.3052
Previous Weekly High	1.319
Previous Weekly Low	1.3051
Previous Monthly High	1.3438
Previous Monthly Low	1.3
Daily Fibonacci 38.2%	1.3086
Daily Fibonacci 61.8%	1.3073
Daily Pivot Point S1	1.305
Daily Pivot Point S2	1.3023
Daily Pivot Point S3	1.2995
Daily Pivot Point R1	1.3105
Daily Pivot Point R2	1.3133
Daily Pivot Point R3	1.316

GBP/USD Elliott Wave: Forecasting the short term path

In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD. The pair has given us nice trading opportunity recently. We have been selling the rallies at 1.3298-1.3348 area as explained in previous article on GBPUSD . Reasons for calling further weakness in pair are bearish sequences in the cycle from the June 1st 2021 peak. We recommended members to avoid buying and keep selling rallies in 3,7,11 swings when get a chance. In further text we are going to explain the Elliott Wave Forecast. 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.

160.80: Japanese Yen remains close to nearly two-year lows

USD/JPY inches lower after four days of gains, trading around 160.60 during the Asian hours. The USD/JPY pair surged to 160.80 the previous day, marking its highest level since July 2024 and significantly heightening speculation that Japanese authorities could soon intervene to support the struggling Yen.

AUD/USD eyes 0.7050 on weaker USD; 100-day SMA holds the key for bulls

The AUD/USD pair regains positive traction during the Asian session, reversing part of the previous day's slide to sub-0.7000 levels, or the weekly low. Spot prices currently trade around the 0.7040 region, up nearly 0.40% for the day, amid a broadly weaker US Dollar.

$4,300: Gold bounces amid US-Iran peace deal signing, Fed’s hawkish hold

Gold is reversing the previous slump early Wednesday, regaining $4,300 after finding fresh buyers near $4,250. The US Dollar retreats as US-Iran peace deal optimism overshadows hawkish Fed outlook. Technically, Gold needs a sustained break above the 21-day SMA near $4,390 to revive the recovery.

Ripple awaits a breakout while Stellar rally gathers pace

Ripple steadies at $1.19 below the upper boundary of its falling channel after facing rejection. Meanwhile, Stellar extends its gains, rallying over 25% so far this week. Derivatives metrics suggest a cautious outlook for XRP, while XLM's improving futures positioning suggests a bullish outlook.

A new era for the Fed

The Fed has shifted to a more hawkish stance at the first meeting chaired by Kevin Warsh. Although rates were left unchanged, there will be meaningful adjustments to how the Federal Reserve operates in the coming months and years. There are two main takeaways from today’s meeting, firstly what the Fed did, and secondly, what they are planning to do.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.