Pound Sterling Price News and Forecast: GBP/USD recovers some ground on hot UK CPI despite strong US data

FXStreet Team FXStreet

GBP/USD recovers some ground on hot UK CPI despite strong US data

The Pound Sterling (GBP) registered decent gains versus the US Dollar (USD) on Wednesday after a solid report from the Office for National Statistics (ONS) outshone US Retail Sales data for December. Nevertheless, not all has been said, as the GBP/USD pared some of its gains, but it remains up 0.25%, at 1.2667, after hitting a low of 1.2596. Read More...

Pound Sterling eases, broader appeal remains upbeat amid sticky UK Inflation data

The Pound Sterling (GBP) has surrendered some gains as the United States Retail Sales turned out significantly upbeat than expectations. The US Census Bureau has reported that consumer spending grew strongly by 0.6% against expectations of 0.4% and the former reading of 0.3%. Retail Sales excluding automobiles rose by 0.4% against expectations and the prior reading fo 0.2%. Read More...

GBP/USD

Overview
Today last price	1.2671
Today Daily Change	0.0040
Today Daily Change %	0.32
Today daily open	1.2631

Trends
Daily SMA20	1.271
Daily SMA50	1.261
Daily SMA100	1.2452
Daily SMA200	1.2548

Levels
Previous Daily High	1.2734
Previous Daily Low	1.262
Previous Weekly High	1.2786
Previous Weekly Low	1.2674
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2664
Daily Fibonacci 61.8%	1.2691
Daily Pivot Point S1	1.2589
Daily Pivot Point S2	1.2547
Daily Pivot Point S3	1.2474
Daily Pivot Point R1	1.2704
Daily Pivot Point R2	1.2776
Daily Pivot Point R3	1.2818

GBP/USD Price Analysis: Remains under pressure above the 1.2600 mark, oversold RSI condition eyed

The GBP/USD pair faces some selling pressure above 1.2600 during the early European session on Wednesday. Investors await the UK Consumer Price Index (CPI) for December for fresh impetus. The headline UK inflation is estimated to grow 3.8% YoY, while the Core CPI is expected to rise 4.9% YoY. GBP/USD currently trades near 1.2607, losing 0.18% on the day. 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.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY approaches 158.00 as Japanese Yen resumes decline

USD/JPY is resuming its upside in the European session on Friday, refreshing two-week highs and nearing 158.00. The Japanese Yen extends losses, despite the Bank of Japan's (BoJ) expected rate hike to 1.25% and hawkish Governor Ueda's comments, as two surprise dissents against the rate hike weigh on it.

Gold keeps the bid tone in place; still below $4,400

Gold adds to the optimism seen in the second half of the week, trading with decent gains just below the $4,400 mark per troy ounce on Friday. The precious metal’s advance finds traction in declining crude oil prices and fresh selling pressure on the US Dollar.

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

BoJ Recap: Not as hawkish as expected

The BoJ raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks. Governor Kazuo Ueda said the policy phase had changed.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.