Pound Sterling Price News and Forecast: GBP/USD soaring into 1.24, set for its best trading day since March

FXStreet Team FXStreet

GBP/USD soaring into 1.24, set for its best trading day since March

The GBP/USD is climbing into the 1.2400 handle to cap off a trading week that saw the pair mostly flounder around the averages.

After US Nonfarm Payrolls (NFP) came in well below expectations the Pound Sterling (GBP) climbed 1.6% from Friday's opening bids near 1.2190, and the GPB/USD is up almost 2.5% from the week's lows of 1.2095. Read More...

Pound Sterling rallies on improved market sentiment

The Pound Sterling (GBP) advances swiftly as improved market sentiment outperforms a stagnant growth outlook for the UK economy. The market mood has turned extremely upbeat after the United States labor demand slowed in October and the Unemployment Rate rose beyond expectations. Read More...

GBP/USD

Overview
Today last price	1.2382
Today Daily Change	0.0179
Today Daily Change %	1.47
Today daily open	1.2203

Trends
Daily SMA20	1.2184
Daily SMA50	1.2309
Daily SMA100	1.2551
Daily SMA200	1.2435

Levels
Previous Daily High	1.2226
Previous Daily Low	1.2138
Previous Weekly High	1.2289
Previous Weekly Low	1.207
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2192
Daily Fibonacci 61.8%	1.2171
Daily Pivot Point S1	1.2152
Daily Pivot Point S2	1.2101
Daily Pivot Point S3	1.2065
Daily Pivot Point R1	1.224
Daily Pivot Point R2	1.2276
Daily Pivot Point R3	1.2327

GBP/USD Price Analysis: Holds positive ground above 1.2200, the next contention is seen at 1.2170

The GBP/USD pair holds positive ground for the second consecutive day during the early European session on Friday. As widely expected, the Bank of England (BoE) decided to maintain the interest rate unchanged at 5.25% on Thursday. During the press conference, BoE Governor Andrew Bailey stated that an additional rate hike could be appropriate, but Bailey disregarded rate cuts. The major pair currently trades around 1.2208, gaining 0.08% on the day. Read More...

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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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