Pound Sterling Price News and Forecast: GBP/USD struggles despite UK´s economy dodging a recession

FXStreet Team FXStreet

GBP/USD struggles despite UK´s economy dodging a recession, post-Powell’s hawkish tone

GBP/USD failed to gain traction on Friday, extended its losses to five consecutive days, is down 0.16% or 20 pips from its opening price after hitting a daily high of 1.2237. At the time of writing, the pair exchanges hands at 1.2205. Read More...

Pound Sterling remains on backfoot amid multiple headwinds

The Pound Sterling (GBP) is expected to continue its losing streak for the fifth trading session as the market participants anticipate a sharp slowdown in the United Kingdom economy. The British economy managed to avoid de-growth in the third quarter of 2023 but remained stagnant as firms were reluctant to hire job-seekers on a permanent basis and plans for capacity expansion were scrapped due to poor demand outlook. Higher interest rates by the Bank of England (BoE) and stubborn price pressure have squeezed the budgets of households. UK Chancellor Jeremy Hunt said, after the release of the Q3 GDP, that high inflation is the single greatest barrier to economic growth. Read More...

GBP/USD faces further consolidation near term – UOB

In the view of UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia, GBP/USD is seen navigating within the 1.2180-1.2400 range in the short-term horizon. Read More...

GBP/USD

Overview
Today last price	1.2216
Today Daily Change	-0.0002
Today Daily Change %	-0.02
Today daily open	1.2218

Trends
Daily SMA20	1.2198
Daily SMA50	1.2275
Daily SMA100	1.2527
Daily SMA200	1.2434

Levels
Previous Daily High	1.2309
Previous Daily Low	1.2213
Previous Weekly High	1.239
Previous Weekly Low	1.209
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2249
Daily Fibonacci 61.8%	1.2272
Daily Pivot Point S1	1.2185
Daily Pivot Point S2	1.2151
Daily Pivot Point S3	1.2089
Daily Pivot Point R1	1.228
Daily Pivot Point R2	1.2342
Daily Pivot Point R3	1.2376

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 slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD nudges higher above 1.1350 on softer Fed stance, traders await US jobs data

The EUR/USD pair posts modest gains near 1.1380 during the early Asian session on Thursday. The US Dollar edges lower against the Euro on less hawkish remarks from Federal Reserve Chairman Kevin Warsh. Traders will closely monitor the US jobs data for June later on Thursday.

Gold hovers near $4,050 as bullish USD caps gains ahead of US NFP

Gold steadies following the previous day's volatile two-way price swings and trades just below $4,050 during the Asian session on Thursday as traders now look to the crucial US NFP report for fresh impetus. In the meantime, Wednesday's US economic data kept Fed rate-hike expectations elevated and continues to act as a tailwind for the US Dollar. Furthermore, the uncertainty over US-Iran talks underpins the safe-haven buck, which, in turn, should cap the bullion.

Morpho surges as Standard Chartered projects $60 price by 2030

Standard Chartered has initiated coverage of decentralized finance lending protocol Morpho, forecasting its native token could reach $60 by the end of 2030 as the sector expands and institutional adoption of onchain finance accelerates.

Warsh stays on message as inflation remains the Fed's top priority

At the ECB Forum in Sintra, Fed Chair Kevin Warsh largely followed the script, offering little to change the market’s current view on monetary policy.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.