Pound Sterling Price News and Forecast: GBP/USD struggles at 1.2500

FXStreet Team FXStreet

GBP/USD struggles at 1.2500, retraces amidst US recession fears, Fed pause

GBP/USD faces strong resistance at around 1.2500 and retraces due to risk aversion as investors assess a possible recession in the United States (US). The latest US economic data paints a gloomy scenario, which is already foreseen by the US Federal Reserve (Fed) as the last piece of the puzzle, the larbor market, showed signs of slowing down. The GBPUSD trades at 1.2459, down by 0.33%. Read More...

GBP/USD consolidates its recent gains to multi-month top, stuck in a range around 1.2500

The GBP/USD pair is seen oscillating in a narrow trading band through the early part of the European session on Wednesday and consolidates its recent gains to its highest level since June 2022 touched the previous day. The pair is currently placed around the 1.2500 psychological mark and seems poised to prolong the upward trajectory witnessed over the past month or so. Read More...

GBP/USD treads water at multi-day top near 1.2500 ahead of US PMI, employment statistics

GBP/USD bulls jostle with the bears at the 10-month high surrounding 1.2500 as they await the key US/UK data during early Wednesday. Not only cautious mood ahead of the important statistics but corrective bounces in the US Dollar and yields also allow the Cable pair buyers to take a breather of late. Read More...

GBP/USD

Overview
Today last price	1.246
Today Daily Change	-0.0042
Today Daily Change %	-0.34
Today daily open	1.2502

Trends
Daily SMA20	1.2217
Daily SMA50	1.2153
Daily SMA100	1.2143
Daily SMA200	1.1897

Levels
Previous Daily High	1.2525
Previous Daily Low	1.2395
Previous Weekly High	1.2424
Previous Weekly Low	1.2219
Previous Monthly High	1.2424
Previous Monthly Low	1.1803
Daily Fibonacci 38.2%	1.2476
Daily Fibonacci 61.8%	1.2445
Daily Pivot Point S1	1.2423
Daily Pivot Point S2	1.2344
Daily Pivot Point S3	1.2293
Daily Pivot Point R1	1.2553
Daily Pivot Point R2	1.2604
Daily Pivot Point R3	1.2683

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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