Pound Sterling Price News and Forecast: GBP/USD stalls at around 1.2420 firm on solid USD, mixed sentiment

FXStreet Team FXStreet

GBP/USD stalls at around 1.2420 firm on solid USD, mixed sentiment

GBP/USD hovers around the 1.2420s area after traveling around a 60-pip range on Tuesday, capped by the lack of economic data from the United States (US) and mixed market sentiment. Factors linked to US bond yields and the greenback, weighed on the Pound Sterling (GBP), set to register back-to-back days of losses. At the time of writing, the GBP/USD is trading at 1.2420. Read More...

GBP/USD slides back closer to 1.2400 amid reviving USD demand, downside seems limited

The GBP/USD pair struggles to capitalize on the previous day's goodish rebound of over 70 pips and attracts fresh sellers near the 1.2455-1.2460 region, or the 50-day Simple Moving Average (SMA), on Tuesday. Spot prices turn lower for the third straight day and trade just above the 1.2400 round-figure mark during the first half of the European session. Read More....

GBP/USD struggles to surpass 1.2450, upside seems favored despite hawkish Fed bets improve

The GBP/USD pair has witnessed delicate barricades after climbing to near 1.2450 in the early European session. The Cable is expected to remain on tenterhooks as the USD Dollar Index (DXY) has attempted a recovery after dropping to near 103.81. More downside for the US Dollar Index (DXY) seems solid as the United States economy is moving towards recession. Read More...

GBP/USD

Overview
Today last price	1.243
Today Daily Change	-0.0012
Today Daily Change %	-0.10
Today daily open	1.2442

Trends
Daily SMA20	1.2454
Daily SMA50	1.2456
Daily SMA100	1.2303
Daily SMA200	1.1998

Levels
Previous Daily High	1.246
Previous Daily Low	1.2369
Previous Weekly High	1.2545
Previous Weekly Low	1.2327
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.2403
Daily Fibonacci 61.8%	1.2425
Daily Pivot Point S1	1.2387
Daily Pivot Point S2	1.2332
Daily Pivot Point S3	1.2296
Daily Pivot Point R1	1.2478
Daily Pivot Point R2	1.2514
Daily Pivot Point R3	1.2569

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.

GBP/USD dips below 1.3350 with bullish momentum losing steam

The British Pound ticks lower against the US Dollar Monday, attempting to close a seven-day rally, as tensions rise again in the Strait of Hormuz, one of the critical points in the peace process between Washington and Tehran. The GBP/USD pair trades near 1.3340 at the time of writing, down from 1.3387 highs last week, although it maintains a near-term bullish trend intact.

EUR/USD drops toward 1.1400 as US Dollar rebounds

EUR/USD pair trades marginally lower, heading toward 1.1400 in the European session on Monday. The pair faces slight selling pressure as the US Dollar gains ground after a negative weekly close. Middle East concerns and the USD/JPY rally support the Greenback.

Gold sticks to modest losses amid Hormuz risks; lacks bearish conviction

Gold shows some resilience below the $4,150 level, and for now seems to have stalled its intraday retracement slide from a two-week high, levels just above the $4,200 mark, touched earlier this Monday. The commodity, however, retains its negative bias heading into the European session, seems to have snapped a three-day winning streak.

Dogecoin recovery stalls amid early signs of whale support

Dogecoin (DOGE) price nears $0.0770, maintaining a broadly consolidative tone for the last three days after Friday’s 4% rebound. The first-ever meme coin is losing retail interest as DOGE derivatives volume drops, while on-chain data shows early signs that large-wallet investors, commonly referred to as whales, are expanding their holdings.

Week ahead – ISM services PMI and Fed Minutes to shake Fed hike bets

The US dollar is finishing the week on the back foot against most of its major counterparts this week, losing the most ground against the kiwi, the franc and the pound. Despite the pullback, investors remained adamant in their view that the Fed may have to press the rate hike button before the turn of the year.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.