Pound Sterling Price News and Forecast GBP/USD: US inflation and UK virus data hold the key

FXStreet Team FXStreet

GBP/USD Forecast: To 1.40 or 1.42? All eyes on US Nonfarm Payrolls

Sterling has succumbed to data and Fed-related dollar strength. Nonfarm Payrolls and also worries about the Delta variant are set to move the currency pair. Friday's four-hour chart is showing that cable is at crossroads. Down but not out – that is probably the feeling of GBP/USD bulls after Thursday's blows. The greenback staged a comeback after a trio of US figures beat estimates and as the Federal Reserve seems to be more open to at least talking about tapering its bond buys. Read more...

GBP/USD Weekly Forecast: How low can it go? US inflation and UK virus data hold the key

GBP/USD has whipsawed by US data and concerns about Britain's reopening. US inflation data, Fed speculation and UK virus headlines are eyed now. Early June's daily chart shows that bulls remain in the lead. The FX Poll is pointing to steady trading down the road. Taper tantrum – this fear of tightening from the Federal Reserve has been supporting the dollar and overwhelming markets, at least until jobs data missed estimates. Evidence of inflation is set to be crucial to the next GBP/USD moves, alongside ongoing speculation about Britain's reopening. Read more...

GBP/USD fails to recover 1.4200, holds onto important daily gains

Cable rebounds further, finds resistance at the 1.4200 area. Pound also faces resistance against the euro and losses momentum. The GBP/USD rose further during the American session and peaked at 1.4200. Like Thursday, it was unable to break the 1.4200 area and pulled back. The retracement found support at 1.4165 and the pair is about to end the week flat hovering around 1.4160/70. Read more...

GBP/USD

Overview
Today last price	1.4166
Today Daily Change	0.0059
Today Daily Change %	0.42
Today daily open	1.4107

Trends
Daily SMA20	1.4135
Daily SMA50	1.3958
Daily SMA100	1.3894
Daily SMA200	1.3548

Levels
Previous Daily High	1.4203
Previous Daily Low	1.4087
Previous Weekly High	1.4219
Previous Weekly Low	1.4092
Previous Monthly High	1.4234
Previous Monthly Low	1.3801
Daily Fibonacci 38.2%	1.4131
Daily Fibonacci 61.8%	1.4159
Daily Pivot Point S1	1.4061
Daily Pivot Point S2	1.4016
Daily Pivot Point S3	1.3945
Daily Pivot Point R1	1.4178
Daily Pivot Point R2	1.4248
Daily Pivot Point R3	1.4294

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 loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.