Pound Sterling Price News and Forecast: GBP/USD trades on a softer note above the mid-1.2600s

FXStreet Team FXStreet

GBP/USD trades on a softer note above the mid-1.2600s, US PCE data eyed

The GBP/USD pair bounces off the multi-day lows near 1.2620 and recovers to 1.2660 during the early Asian session on Thursday. The renewed US Dollar (USD) demand ahead of the key US event weighs on the major pair. Investors await the US January Personal Consumption Expenditures Price Index (PCE) on Thursday for fresh impetus. At press time, GBP/USD is trading at 1.2660, down 0.01% for the day. Read More...

GBP/USD

Overview
Today last price	1.2668
Today Daily Change	0.0007
Today Daily Change %	0.06
Today daily open	1.2661

Trends
Daily SMA20	1.2629
Daily SMA50	1.2677
Daily SMA100	1.2544
Daily SMA200	1.2574

Levels
Previous Daily High	1.2688
Previous Daily Low	1.2622
Previous Weekly High	1.271
Previous Weekly Low	1.2579
Previous Monthly High	1.2786
Previous Monthly Low	1.2597
Daily Fibonacci 38.2%	1.2647
Daily Fibonacci 61.8%	1.2663
Daily Pivot Point S1	1.2626
Daily Pivot Point S2	1.2591
Daily Pivot Point S3	1.256
Daily Pivot Point R1	1.2692
Daily Pivot Point R2	1.2723
Daily Pivot Point R3	1.2758

Pound Sterling plummets on risk-off mood ahead of US inflation data

The Pound Sterling (GBP) weakens in Wednesday’s late European session as the market sentiment remains volatile ahead of critical United States core Personal Consumption Expenditure price index (PCE) data for January. The GBP/USD pair falls on the back foot despite expectations that the Bank of England (BoE) will begin reducing interest rates later than the Federal Reserve (Fed). This supports the Pound Sterling as higher interest rates generally attract greater foreign capital inflows. Read More...

GBP/USD Price Analysis: Bears look to seize control below 23.6% Fibo. amid modest USD strength

The GBP/USD pair comes under heavy selling pressure following the previous day's two-way directionless price moves and drops to the 1.2665 region during the Asian session on Wednesday. Read More...

Author

FXStreet Team

FXStreet

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