Pound Sterling Price News and Forecast: GBP/USD trades with mild gains near 1.2725

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Pound Sterling’s battle with 1.2800 extends into the Fed week

The Pound Sterling (GBP) continued its battle with the 1.2800 level against the US Dollar (USD) this week, as the GBP/USD pair lost momentum after clinching a fresh three-month top near 1.2820.

GBP/USD booked the fourth straight weekly gain, courtesy of the downbeat tone around the US Dollar, as markets brought bets for the US Federal Reserve (Fed) interest rates cut in September back on the table. Read more...

GBP/USD remains on the defensive below 1.2750 amid firmer US Dollar

The GBP/USD pair recovers some lost ground around 1.2725 during the early Asian trading hours on Monday. The upside of GBP/USD might be limited amid the lower bets of the US Federal Reserve (Fed) rate cuts this year after the stronger-than-expected US Nonfarm Payrolls (NFP) data. Investors will closely watch the UK employment data for May, which is due on Tuesday. On the US docket, the Consumer Price Index (CPI) and Federal Reserve (Fed) interesting that decision this week will be in the spotlight.

On Friday, the US Nonfarm Payrolls rose 272,000 in May from a 165,000 increase in April, above the market consensus of 185,000. Meanwhile, the Unemployment Rate ticked up to 4.0% in May from 3.9% in April. The Average Hourly Earnings climbed 4.1% YoY in May from 4.0% in April (revised from 3.9%), better than the estimate of 3.9%, according to the US Bureau of Labor Statistics. Read more...

GBP/USD

Overview
Today last price	1.2711
Today Daily Change	-0.0009
Today Daily Change %	-0.07
Today daily open	1.272

Trends
Daily SMA20	1.2718
Daily SMA50	1.26
Daily SMA100	1.2638
Daily SMA200	1.2545

Levels
Previous Daily High	1.2818
Previous Daily Low	1.2716
Previous Weekly High	1.2818
Previous Weekly Low	1.2695
Previous Monthly High	1.2801
Previous Monthly Low	1.2446
Daily Fibonacci 38.2%	1.2755
Daily Fibonacci 61.8%	1.2779
Daily Pivot Point S1	1.2685
Daily Pivot Point S2	1.2649
Daily Pivot Point S3	1.2583
Daily Pivot Point R1	1.2787
Daily Pivot Point R2	1.2853
Daily Pivot Point R3	1.2889

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 flirts with tops near 1.3470

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