Pound Sterling Price News and Forecast: GBP/USD recovery unlikely to last

FXStreet Team FXStreet

GBP/USD Forecast: Bullish bias stays intact ahead of key US data

GBP/USD has lost its bullish momentum and retreated below 1.1600 during the European trading hours on Thursday after having gained more than 300 pips in the last two days. The near-term technical outlook suggests that buyers look to retain control but the third-quarter Gross Domestic Product (GDP) data from the US is likely to drive the pair's action in the second half of the day. Read more...

GBP/USD: Recovery unlikely to last – ING

The British pound continues to enjoy a renaissance, but analysts at ING would argue that further gains will be harder to come by.

“The softer dollar environment means that the GBP/USD correction could extend to the 1.1750 area – but we doubt these gains last.” Read more...

GBP/USD could now test the 1.1760 level – UOB

GBP/USD remains firm and could extend the upside momentum to the 1.1760 region in the next weeks, suggest Market Strategist at UOB Group Quek Ser Leang and Economist Lee Sue Ann. Read more...

GBP/USD

Overview
Today last price	1.156
Today Daily Change	-0.0068
Today Daily Change %	-0.58
Today daily open	1.1628

Trends
Daily SMA20	1.1254
Daily SMA50	1.1392
Daily SMA100	1.1751
Daily SMA200	1.2386

Levels
Previous Daily High	1.1639
Previous Daily Low	1.1431
Previous Weekly High	1.144
Previous Weekly Low	1.106
Previous Monthly High	1.1738
Previous Monthly Low	1.0339
Daily Fibonacci 38.2%	1.1559
Daily Fibonacci 61.8%	1.151
Daily Pivot Point S1	1.1493
Daily Pivot Point S2	1.1358
Daily Pivot Point S3	1.1284
Daily Pivot Point R1	1.1701
Daily Pivot Point R2	1.1774
Daily Pivot Point R3	1.1909

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 bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.