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

FXStreet Team FXStreet

GBP/USD rebounds from 1.2200 on improved risk appetite, UK GDP in focus

The GBP/USD pair has sensed buying interest after correcting to near the critical support of 1.2200. The asset is aiming to recapture its six-week high at 1.2293 as investors’ risk appetite has improved dramatically after a significant decline in the US inflation rate.

GBP/USD

Overview
Today last price	1.2211
Today Daily Change	-0.0004
Today Daily Change %	-0.03
Today daily open	1.2215

Trends
Daily SMA20	1.2066
Daily SMA50	1.2153
Daily SMA100	1.2445
Daily SMA200	1.2926

Levels
Previous Daily High	1.2277
Previous Daily Low	1.2065
Previous Weekly High	1.2294
Previous Weekly Low	1.2003
Previous Monthly High	1.2246
Previous Monthly Low	1.176
Daily Fibonacci 38.2%	1.2196
Daily Fibonacci 61.8%	1.2146
Daily Pivot Point S1	1.2094
Daily Pivot Point S2	1.1974
Daily Pivot Point S3	1.1883
Daily Pivot Point R1	1.2306
Daily Pivot Point R2	1.2397
Daily Pivot Point R3	1.2518

GBP/USD: Pound remains vulnerable, could break under 1.20 again

Despite the broad-based slide of the US dollar on Wednesday following the US CPI, analysts at Rabobank still see the GBP/USD vulnerable to the downside and warn it could drop back again under 1.20 on a one to three-month view.

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.