Pound Sterling Price News and Forecast: GBP/USD trades in negative territory for two straight days

FXStreet Team FXStreet

GBP/USD Price Analysis: Remains under pressure above the 1.2600 mark, oversold RSI condition eyed

The GBP/USD pair faces some selling pressure above 1.2600 during the early European session on Wednesday. Investors await the UK Consumer Price Index (CPI) for December for fresh impetus. The headline UK inflation is estimated to grow 3.8% YoY, while the Core CPI is expected to rise 4.9% YoY. GBP/USD currently trades near 1.2607, losing 0.18% on the day.

Technically, GBP/USD holds below the 100-hour Exponential Moving Averages (EMAs) on the four-hour chart, which means further downside looks favorable. Read more...

GBP/USD holds below 1.2650, focus on UK CPI, US Retail Sales data

early Asian session on Wednesday. The upside of the pair might be capped due to the softer-than-projected UK wage growth and the ongoing geopolitical tension in the Middle East, which exert some selling pressure on the British Pound (GBP). GBP/USD currently trades around 1.2636, up 0.05% on the day.

Data from the Office for National Statistics (ONS) revealed on Tuesday that the UK ILO Unemployment Rate remained steady at 4.2% in three months to November, in line with market expectation. Meanwhile, the number of people claiming jobless benefits rose by 11.7K in December from an increase of 0.6K in November. Finally, the UK Employment Change data for November arrived at 73K from the previous reading of a 50K gain. Read more...

GBP/USD

Overview
Today last price	1.2608
Today Daily Change	-0.0023
Today Daily Change %	-0.18
Today daily open	1.2631

Trends
Daily SMA20	1.271
Daily SMA50	1.261
Daily SMA100	1.2452
Daily SMA200	1.2548

Levels
Previous Daily High	1.2734
Previous Daily Low	1.262
Previous Weekly High	1.2786
Previous Weekly Low	1.2674
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2664
Daily Fibonacci 61.8%	1.2691
Daily Pivot Point S1	1.2589
Daily Pivot Point S2	1.2547
Daily Pivot Point S3	1.2474
Daily Pivot Point R1	1.2704
Daily Pivot Point R2	1.2776
Daily Pivot Point R3	1.2818

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.