Pound Sterling Price News and Forecast: GBP/USD tests below 1.24 as Pound Sterling softens

FXStreet Team FXStreet

GBP/USD tests below 1.24 as Pound Sterling softens

The Pound Sterling (GBP) is notably bearish for Thursday, briefly breaking beneath the 1.2400 major handle against the Greenback (USD) as bears keep the GBP pinned to the floor. Read More...

Pound Sterling cracks as hawkish BoE bets deepen recession risks

The Pound Sterling (GBP) prints a fresh four-month low as strong wage growth momentum in August has set a hawkish undertone for the Bank of England’s (BoE) September monetary policy decision. The GBP/USD pair dropped sharply despite investors hope that a hawkish interest rate decision from the BoE will scrap its policy divergence with the Federal Reserve (Fed). Read More...

GBP/USD: A drop to 1.2400 still appears in the pipeline – UOB

GBP/USD could still slip back to the 1.2400 region in the next weeks, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.2407
Today Daily Change	-0.0083
Today Daily Change %	-0.66
Today daily open	1.249

Trends
Daily SMA20	1.2612
Daily SMA50	1.2749
Daily SMA100	1.2656
Daily SMA200	1.2431

Levels
Previous Daily High	1.2512
Previous Daily Low	1.2435
Previous Weekly High	1.2643
Previous Weekly Low	1.2446
Previous Monthly High	1.2841
Previous Monthly Low	1.2548
Daily Fibonacci 38.2%	1.2464
Daily Fibonacci 61.8%	1.2482
Daily Pivot Point S1	1.2446
Daily Pivot Point S2	1.2402
Daily Pivot Point S3	1.2369
Daily Pivot Point R1	1.2523
Daily Pivot Point R2	1.2556
Daily Pivot Point R3	1.26

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.

AUD/USD edges higher as hot CPI inflation and hawkish RBA lift rate hike bets

The AUD/USD pair gathers strength to near 0.7035 during the Asian trading hours on Friday. The Australian Dollar edges higher against the US Dollar as hotter Australian CPI inflation data has bolstered expectations of Reserve Bank of Australia rate hikes.

USD/JPY meets support near 157.00

USD/JPY retreats for the third consecutive day on Friday, revisiting the 157.00 region before attempting some recovery as investors continue to assess the latest BoJ meeting, where the central bank left rates unchanged, as widely anticipated.

Gold sinks to fresh yearly lows despite risk-off mood as Fed rate hike bets weigh

Gold slips to fresh year-to-date lows on Friday. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory.

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.

BoJ recap: A pause for now... but Japan has entered a new inflation phase

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot. The decision passed by 8-1, with board member Takata dissenting in favour of an increase to 1.5%, while Governor Kazuo Ueda stressed that the Bank would continue adjusting policy as needed.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.