Pound Sterling Price News and Forecast: GBP/USD retreats from the highest levels since April 2022

FXStreet Team FXStreet

GBP/USD Price Analysis: Cable sellers approach 1.2800 on bearish Pennant confirmation

GBP/USD sellers prod intraday low of around 1.2810 heading into Monday’s London open, printing the first daily loss in five at the highest levels in 14 months.

In doing so, the Cable pair justifies the downside break of a bearish pennant chart formation amid downbeat signals from the MACD and the RSI (14) technical indicators. Read more...

GBP/USD hovers near its highest level since April 2022, remains below mid-1.2800s

The GBP/USD pair gains some positive traction for the fourth successive day on Monday and trades just below mid-1.2800s, near its highest level since April 2022 during the Asian session.

The British Pound (GBP) continues with its relative outperformance in the wake of expectations that the Bank of England (BoE) will continue with its policy tightening to stop inflation expectations from becoming entrenched. In fact, the BoE is universally anticipated to hike the benchmark rates by 25 bps on Thursday, to 4.75% or the highest since April 2008. Moreover, the markets are pricing in the possibility of a bigger, 50 bps lift-off, which, along with subdued US Dollar price action, acts as a tailwind for the GBP/USD pair. Read more...

GBP/USD

Overview
Today last price	1.2817
Today Daily Change	-0.0005
Today Daily Change %	-0.04
Today daily open	1.2822

Trends
Daily SMA20	1.2495
Daily SMA50	1.2492
Daily SMA100	1.2324
Daily SMA200	1.2045

Levels
Previous Daily High	1.2848
Previous Daily Low	1.2768
Previous Weekly High	1.2848
Previous Weekly Low	1.2487
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.2818
Daily Fibonacci 61.8%	1.2799
Daily Pivot Point S1	1.2777
Daily Pivot Point S2	1.2733
Daily Pivot Point S3	1.2697
Daily Pivot Point R1	1.2857
Daily Pivot Point R2	1.2893
Daily Pivot Point R3	1.2937

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 tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

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.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

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.