Pound Sterling Price News and Forecast: GBP/USD remains calm due to lowered UK inflation

FXStreet Team FXStreet

GBP/USD maintains its position below 1.2650, focus on US GDP data

GBP/USD hovers around 1.2640 during the Asian hours on Thursday, attempting to recover its recent losses registered on Wednesday. The Pound Sterling (GBP) faced a challenge due to downbeat inflation from the United Kingdom (UK). Additionally, the US Dollar (USD) witnessed gains on improved economic data from the United States (US).

UK Consumer Price Index (CPI) (YoY) eased at 3.9% from the previous figures of 4.6%, against the expected readings of 4.4% in November. The CPI (MoM) dropped 0.2% MoM in November from a flat 0.0% in the previous reading and below the 0.1% estimated. The Core CPI (YoY) rose 5.1% versus 5.7% prior and the market consensus of 5.6%. Investors will further observe Gross Domestic Product and Retail Sales data scheduled to be released on Friday. Read more...

GBP/USD remains on the defensive below the mid-1.2600s ahead of US GDP data

The GBP/USD pair holds below the mid-1.2600s during the early Asian trading hours on Thursday. The downtick of the pair is backed by the weaker-than-expected UK inflation data and a modest recovery of the US Dollar (USD). At press time, the major pair is trading at 1.2638, up 0.08% on the day.

US consumers were more optimistic about the US economy in December. The US CB Consumer Confidence rose to 110.7 versus 101.0 prior (revised down from 102.0). Additionally, the annual rate of Existing Home Sales arrived at 3.82M in November, above the market consensus of 3.77M. Read more...

GBP/USD

Overview
Today last price	1.2647
Today Daily Change	0.0020
Today Daily Change %	0.16
Today daily open	1.2627

Trends
Daily SMA20	1.2631
Daily SMA50	1.2411
Daily SMA100	1.2449
Daily SMA200	1.2511

Levels
Previous Daily High	1.2735
Previous Daily Low	1.2626
Previous Weekly High	1.2794
Previous Weekly Low	1.2501
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2668
Daily Fibonacci 61.8%	1.2693
Daily Pivot Point S1	1.259
Daily Pivot Point S2	1.2554
Daily Pivot Point S3	1.2482
Daily Pivot Point R1	1.2699
Daily Pivot Point R2	1.2771
Daily Pivot Point R3	1.2807

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.

GBP/USD bounces back above 1.3200 after strong UK Retail Sales data

GBP/USD extends the rebound above the 1.3200 mark in early Europe on Friday. Stronger-than-expected UK Retail Sales data provide a much-needed lift to the British Pound and the pair amid a chaotic UK political environment.

EUR/USD recovers above 1.1450 on USD pullback

EUR/USD recovers losses and rises back above 1.1450 in the European session on Friday. The pair finds traction as the US Dollar (USD) pulls back sharply on profit-taking amid thin trading conditions, following the hawkish Fed-led rally.

Gold rebounds from one-week low; upside seems limited amid hawkish Fed, bullish USD

Gold recovers slightly from over a one-week low, touched earlier this Friday, though the upside potential seems limited in the face of a bearish fundamental backdrop. Against the backdrop of the US Federal Reserve's hawkish tilt, the uncertainty surrounding the next round of US-Iran negotiations continues to push the US Dollar higher for the third straight day.

Solana extends correction despite ETF inflows, RWA adoption

Solana (SOL) price edges below $70 extending its losses for the fourth straight day this week. The institutional demand for Solana is building, with steady inflows so far this week and Morgan Stanley’s amended S-1 filing for a Solana-focused Exchange-Traded Fund.

Solana extends correction despite ETF inflows, RWA adoption

Solana (SOL) price edges below $70 on Friday, extending its losses for the fourth straight day this week. The institutional demand for Solana is building, with steady inflows so far this week and Morgan Stanley’s amended S-1 filing for a Solana-focused Exchange-Traded Fund.

The next big AI trade may not be about chips or software

Artificial intelligence has already created some of the biggest winners in modern market history. Chipmakers have surged, data centre construction is booming, and electricity demand forecasts are changing globally.