Pound Sterling Price News and Forecast: GBP/USD surges amidst US labor market data, BoE rate hike bets

FXStreet Team FXStreet

GBP/USD surges amidst US labor market data, BoE rate hike bets

GBP/USD rallies above 1.2500 as labor market data from the United States (US) keeps investors expecting a pause on the Federal Reserve (Fed) hiking cycle. The lack of economic data to be revealed in the UK, alongside traders betting for Bank of England’s (BoE) additional tightening, underpins the GBP/USD. The GBP/USD trades at 1.2550 after hitting a low of 1.2429. Read More...

GBP/USD marches towards 1.2500 as USD Index refreshes day’s low

The GBP/USD pair is approaching the psychological resistance of 1.2500 in the European session. The Cable has been awarded strength as the US Dollar Index (DXY) has extended its downside journey. The USD Index has come under intense pressure as the street is majorly divided about Federal Reserve’s (Fed) interest rate policy for June. Read More...

GBP/USD is now seen within 1.2350-1.2550 – UOB

GBP/USD is now expected to navigate between 1.2350 and 1.2550 in the short term, note UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More...

GBP/USD

Overview
Today last price	1.2556
Today Daily Change	0.0119
Today Daily Change %	0.96
Today daily open	1.2437

Trends
Daily SMA20	1.2434
Daily SMA50	1.246
Daily SMA100	1.2305
Daily SMA200	1.2006

Levels
Previous Daily High	1.25
Previous Daily Low	1.2395
Previous Weekly High	1.2545
Previous Weekly Low	1.2327
Previous Monthly High	1.268
Previous Monthly Low	1.2308
Daily Fibonacci 38.2%	1.246
Daily Fibonacci 61.8%	1.2435
Daily Pivot Point S1	1.2388
Daily Pivot Point S2	1.2339
Daily Pivot Point S3	1.2283
Daily Pivot Point R1	1.2493
Daily Pivot Point R2	1.2549
Daily Pivot Point R3	1.2598

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 keeps the bid bias near 1.3550

GBP/USD leaves behind part of the recent three-day retracement and hovers around the 1.3550 region on Monday. The Greenback’s fresh downward trend helps Cable and the rest of the risk complex recoup part of the recent ground lost while attention remains on the potential Fed rate path.

EUR/USD retakes 1.1600; looks at the 200-day SMA

EUR/USD manages to gather fresh steam and advances past the 1.1600 hurdle as Monday’s NA session draws to a close. Indeed, the pair patially reverses Friday’s sharp retracement amid the renewed downside momentum in the US Dollar. Moving forward, the flash Inflation Rate in the euro zone and US JOLTs and the ISM Manufacturing should keep investors entertained on turnaround Tuesday.

Gold bulls seem hesitant above $4,450 as Fed hike bets and Iran tensions support USD

Gold is looking to build on the overnight bounce from sub-$4,400 levels amid a softer US Dollar, though the upside seems limited. Fed Chair Kevin Warsh's hawkish message, along with inflation risks stemming from higher oil prices, lift September rate-hike bets. Adding to this, escalating US-Iran tensions could support the safe-haven USD, warranting caution for XAU/USD bulls.

Ethereum: BitMine scoops 53K ETH as Lee predicts increased institutional accumulation

Ethereum treasury firm BitMine Immersion Technologies extended its ETH buying run following another round of weekly acquisitions. The firm purchased 53,501 ETH last week, its largest weekly purchase since June and marking 65 consecutive weeks of ETH acquisitions. The move has lifted BitMine's stack to 5.901 million ETH worth $14.63 billion at the time of writing.

Oil rallies on fresh persian gulf strikes

Energy prices are trading firmer this morning after the US carried out targeted strikes against Iran, drawing retaliatory strikes and reinforcing concerns about a prolonged stalemate in the Persian Gulf. Oil prices started the week stronger following the first military strikes between the US and Iran in a month. ICE Brent briefly moved back above US$90/bbl in early morning Asia trading.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.