Pound Sterling Price News and Forecast: GBP/USD retraces its recent losses

FXStreet Team FXStreet

GBP/USD improves to near 1.2740 on subdued US Dollar, focus on UK housing data

GBP/USD attempts to recover its losses registered in the previous session. The GBP/USD pair trades slightly higher around 1.2740 during the Asian hours on Friday. The US Dollar (USD) attempted to halt its losing streak before the end of the year 2023, but it appears to be struggling to stay in positive territory. The US Dollar Index (DXY) trades lower than 101.13 at the time of writing.

United States (US) Treasury yields experiences a downward movement after posting gains in Thursday's session. This development is notable as it weighs on the Greenback, with investors predicting reduced interest rates soon. The 2-year and 10-year yields closed higher at 4.28% and 3.84%, respectively, in the previous session. However, on Friday, both yields are standing lower at 4.27% and 3.83%, respectively, by the press time. Read more...

GBP/USD forecast to rise to 1.3500 in 2024 – Goldman Sachs

GBP/USD is set to extend its bullish momentum to 1.3500 next year, the Head of global FX at Goldman Sachs said in his latest note, citing correlation with equities and diminishing fears of global recession. Read more...

GBP/USD

Overview
Today last price	1.2737
Today Daily Change	0.0004
Today Daily Change %	0.03
Today daily open	1.2733

Trends
Daily SMA20	1.2659
Daily SMA50	1.2478
Daily SMA100	1.2449
Daily SMA200	1.2527

Levels
Previous Daily High	1.2828
Previous Daily Low	1.2713
Previous Weekly High	1.2762
Previous Weekly Low	1.2612
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2757
Daily Fibonacci 61.8%	1.2784
Daily Pivot Point S1	1.2688
Daily Pivot Point S2	1.2643
Daily Pivot Point S3	1.2572
Daily Pivot Point R1	1.2803
Daily Pivot Point R2	1.2873
Daily Pivot Point R3	1.2918

Author

FXStreet Team

FXStreet

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