Pound Sterling Price News and Forecast: GBP/USD satisfactory NFP to keep cable on a positive note

FXStreet Team FXStreet

GBP/USD eases from tops, still well bid near 1.2500 mark

The GBP/USD pair trimmed a part of its early gains to over one-week tops, albeit has still managed to hold in the positive territory, around the key 1.2500 psychological mark.

The pair built on this week's goodish recovery move from mid-1.2200s and continued gaining traction through the first half of trading action on Thursday. The positive momentum was sponsored some follow-through selling around the US dollar. Read more..

GBP/USD: Satisfactory NFP to keep cable on a positive note

GBP/USD is trading up +0.31% to 1.2513 amid an upbeat market mood. Today, all eyes are on US Nonfarm Payrolls, which are expected to show an ongoing recovery and, therefore, the cable should be underpinned, FXStreet's analyst Yohay Elam informs.

Key quotes: "GBP/USD has broken above the downtrend resistance line and surged to new highs – buoyed by hopes of a coronavirus vaccine. Pfizer and BioNTech reported progress in initial tests, pushing stocks higher. That put pressure on the safe-haven dollar. Another effort to defeat COVID-19 is underway at Oxford University and is at a more stage – at least according to Dr. Anthony Fauci, America's leading epidemiologist. That seemed enough to outweigh all of sterling's issues." Read more..

GBP/USD nears its limits, stubborn resistance at 1.2550 to test overbought conditions

At press time, GBP/USD continues scaling higher, up 0.33% on a day to 1.2515, while Thursday's 4-hour chart is pointing to overbought conditions and strong resistance at 1.2550, FXStreet's analyst Yohay Elam reports.

Key quotes: "The Relative Strength Index on the 4-hour chart is around 70 – entering overbought conditions and implying a downside correction. On the other hand, GBP/USD is trading above the 50, 100, and 200 Simple Moving Averages after the recent surge, and benefits from upside momentum. Moreover, cable has decisively broken above the stubborn downtrend resistance line." Read more..

XAU/USD

Overview
Today last price	1774.84
Today Daily Change	4.44
Today Daily Change %	0.25
Today daily open	1770.4

Trends
Daily SMA20	1739.91
Daily SMA50	1726.66
Daily SMA100	1674.09
Daily SMA200	1590.54

Levels
Previous Daily High	1789.28
Previous Daily Low	1759.26
Previous Weekly High	1779.41
Previous Weekly Low	1742.97
Previous Monthly High	1785.91
Previous Monthly Low	1670.76
Daily Fibonacci 38.2%	1770.73
Daily Fibonacci 61.8%	1777.81
Daily Pivot Point S1	1756.68
Daily Pivot Point S2	1742.96
Daily Pivot Point S3	1726.66
Daily Pivot Point R1	1786.7
Daily Pivot Point R2	1803
Daily Pivot Point R3	1816.72

Author

FXStreet Team

FXStreet

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