Pound Sterling Price News and Forecast: GBP/USD remains sidelined

FXStreet Team FXStreet

GBP/USD Price Analysis: Cable begins BoE/NFP week on defensive note near 1.2850

GBP/USD aptly portrays the market’s indecision amid the early hours of the key week comprising the Bank of England (BoE) Monetary Policy Meeting and the US Nonfarm Payrolls (NFP), making rounds to 1.2850 by the press time. In doing so, the Cable pair also justifies the mixed technical signals amid cautious optimism.

That said, the Pound Sterling improved from a two-month-old support line the previous day but bearish MACD signals and steady RSI prods the GBP/USD bulls of late. Also acting as a short-term upside hurdle is the 10-DMA level of around 1.2890. Read more...

GBP/USD recovery looks to recapture 1.2900 as Fed hawks retreat on mixed data, focus on BoE, US NFP

GBP/USD benefits from the US Dollar’s retreat amid a sluggish start to the week comprising the all-important Bank of England (BoE) Monetary Policy Meeting and the US Nonfarm Payrolls (NFP). That said, the Cable pair prints mild gains around 1.2860 by the press time after posting a minor weekly loss in the last.

That said, the US Dollar Index (DXY) extends the previous day’s retreat from a three-week high on weekend headlines from China and comments from Federal Reserve Bank of Minneapolis President Neel Kashkari. Furthermore, hopes of witnessing the Bank of England’s (BoE) 0.25% rate hike also allow the Pound Sterling to pare recent losses. Read more...

GBP/USD

Overview
Today last price	1.2851
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.2851

Trends
Daily SMA20	1.2889
Daily SMA50	1.2698
Daily SMA100	1.2554
Daily SMA200	1.2286

Levels
Previous Daily High	1.2888
Previous Daily Low	1.2763
Previous Weekly High	1.2996
Previous Weekly Low	1.2763
Previous Monthly High	1.2848
Previous Monthly Low	1.2369
Daily Fibonacci 38.2%	1.2841
Daily Fibonacci 61.8%	1.2811
Daily Pivot Point S1	1.278
Daily Pivot Point S2	1.2709
Daily Pivot Point S3	1.2655
Daily Pivot Point R1	1.2905
Daily Pivot Point R2	1.2959
Daily Pivot Point R3	1.303

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.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold bulls seem hesitant below $4,500 amid modest USD bounce ahead of US NFP

Gold remains on the defensive below the $4,500 mark through the Asian session, snapping a two-day winning streak amid a modest US Dollar uptick. The commodity, however, remains close to the weekly high, which it touched the previous day, as traders keenly await the release of the closely watched US monthly employment details. The popularly known US Nonfarm Payrolls (NFP) report will provide more cues about the Fed's policy path amid receding bets of a September rate hike.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

US August Nonfarm Payrolls expected to rebound to 56K after July slump

The US Bureau of Labor Statistics (BLS) is set to release the Nonfarm Payrolls (NFP) data for August. Investors expect NFP to rise by 56K in August following July’s unexpected print of -23K.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.