Pound Sterling Price News and Forecast: GBP/USD rises on strong UK and US PMIs, ahead of US GDP report

FXStreet Team FXStreet

GBP/USD rises on strong UK and US PMIs, ahead of US GDP report

The GBP/USD climbed during the mid-North American session on Wednesday after economic data suggested the UK’s economy remains solid after a release of strong PMI figures. That and soft US Dollar, which are the reasons supporting Sterling’s advance. At the time of writing, the major trades at 1.2726 gaining 0.36%. Read More...

GBP/USD surges to near 1.2760 on the upbeat UK PMI data, focus shifts to US PMI

GBP/USD rises to near 1.2760 during the European session on Wednesday. The positive Purchasing Managers Index (PMI) data from the United Kingdom (UK) contribute to a rise in the Pound Sterling (GBP) against the US Dollar (USD). The preliminary S&P Global/CIPS Services PMI for January demonstrated growth, reaching 53.8 compared to the previous figure of 53.4. Additionally, the Manufacturing PMI increased to 47.3 from the earlier reading of 46.2. Concurrently, the Composite PMI showed appreciation, reporting a figure of 52.5 as compared to the previous reading of 52.1. Read More...

GBP/USD

Overview
Today last price	1.2728
Today Daily Change	0.0042
Today Daily Change %	0.33
Today daily open	1.2686

Trends
Daily SMA20	1.2712
Daily SMA50	1.265
Daily SMA100	1.2455
Daily SMA200	1.2554

Levels
Previous Daily High	1.2748
Previous Daily Low	1.2649
Previous Weekly High	1.2766
Previous Weekly Low	1.2597
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2687
Daily Fibonacci 61.8%	1.271
Daily Pivot Point S1	1.2641
Daily Pivot Point S2	1.2596
Daily Pivot Point S3	1.2543
Daily Pivot Point R1	1.2739
Daily Pivot Point R2	1.2792
Daily Pivot Point R3	1.2837

GBP/USD Price Analysis: Improves to near 1.2700 followed by the monthly high

GBP/USD recovers its recent gains, trading higher near 1.2690 during the Asian session on Wednesday. The psychological level at 1.2700 appears as the immediate resistance followed by the weekly high of 1.2747 aligned with the major barrier at 1.2750. A breakthrough above the major barrier could influence the GBP/USD pair to revisit the monthly high at 1.2785 followed by the psychological level at 1.2800. Read More...

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.

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