Pound Sterling Price News and Forecast: GBP/USD recovery attempts remain capped below 1.2600 so far


GBP/USD extends its downside above the mid-1.2500s, US Jobless Claims data eyed

The GBP/USD pair extends its downside above the mid-1.2500s during the early Asian trading hours on Thursday. The downtick of the pair is backed by the firmer US Dollar (USD) broadly. In the absence of economic data released from the UK docket later this week, the GBP/USD pair remains at the mercy of USD price dynamics. At press time, the major pair is trading at 1.2560, gaining 0.03% for the day.

Even though US Federal Reserve (Fed) Chair Jerome Powell said last week that central banks will prepare to tighten policy further if it becomes appropriate to do so, the markets believe that the tightening cycle is now over. According to a Reuters poll, analysts anticipate the Fed will hold interest rates until at least July, later than earlier thought. Read more...

GBP/USD recovery attempts remain capped below 1.2600 so far

The Pound’s is trying to regain some ground in early European session after bouncing from session lows at 1.2540 although 1.2600 seems a tough resistance area.

Sterling’s bears remain in control after the pair accelerated its reversal from three-month highs above 1.2700 on Thursday. The sourer market sentiment on heightened fears about a global economic slowdown in 2024 is underpinning support on the safe-haven Dollar. Read more...

GBP/USD

Overview
Today last price 1.2586
Today Daily Change 0.0030
Today Daily Change % 0.24
Today daily open 1.2556
 
Trends
Daily SMA20 1.2516
Daily SMA50 1.2324
Daily SMA100 1.2469
Daily SMA200 1.248
 
Levels
Previous Daily High 1.2614
Previous Daily Low 1.2552
Previous Weekly High 1.2733
Previous Weekly Low 1.2591
Previous Monthly High 1.2733
Previous Monthly Low 1.2096
Daily Fibonacci 38.2% 1.2576
Daily Fibonacci 61.8% 1.259
Daily Pivot Point S1 1.2534
Daily Pivot Point S2 1.2512
Daily Pivot Point S3 1.2472
Daily Pivot Point R1 1.2596
Daily Pivot Point R2 1.2636
Daily Pivot Point R3 1.2658

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD clings to daily gains above 1.0650

EUR/USD clings to daily gains above 1.0650

EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.

EUR/USD News

GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.

GBP/USD News

Gold holds steady at around $2,380 following earlier spike

Gold holds steady at around $2,380 following earlier spike

Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.

Gold News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price shows no signs of directional bias while it holds above  $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research. 

Read more

Week ahead – US GDP and BoJ decision on top of next week’s agenda

Week ahead – US GDP and BoJ decision on top of next week’s agenda

US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.

Read more

Forex MAJORS

Cryptocurrencies

Signatures