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 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 holds rebound near $4,050, with all eyes on US NFP

Gold holds the rebound near $4,050 in Thursday's Asian trading, following the previous day's volatile two-way price swings. Traders now look to the crucial US NFP report for fresh impetus. In the meantime, the US Dollar retreats on profit-taking and Mideast optimism, underpinning the Gold price recovery.

Ethereum Institutional launches to boost onchain adoption for TradFi

Ethereum received another advocate on Wednesday following the launch of Ethereum Institutional, an independent non-profit that centers on advancing the institutional adoption of the Ethereum ecosystem — applications, L2s, tools and resources.

A preview of NFP

The number is of much greater importance than usual as the Fed moves away from a forecasting framework and towards a current-data/rebuilding-credibility framework. While I have been pooh-poohing Warsh’s hawkish opener, I am also open to the idea that if he is serious about rebuilding credibility, he can find enough hawkish votes, and if June NFP is another hot one—July FOMC could be in play.

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.