Pound Sterling Price News and Forecast GBP/USD: Why Sterling is set to break higher after weathering negative factors

FXStreet Team FXStreet

GBP/USD drops to one-week lows under 1.3875 amid a rally of USD

US dollar extends gains during the American session as US yields soar. Cable fails to hold to weekly gains, drops below 1.3900. The GBP/USD extended the decline to 1.3860, the lowest level in a week, on the back of a stronger US dollar across the board. The greenback started a rally after the release of the US official employment report that continues. NFP numbers came in above expectations and triggered a sell-off in Treasuries. Read more...

GBP/USD

Overview
Today last price	1.3871
Today Daily Change	-0.0059
Today Daily Change %	-0.42
Today daily open	1.393

Trends
Daily SMA20	1.3833
Daily SMA50	1.3927
Daily SMA100	1.3923
Daily SMA200	1.3754

Levels
Previous Daily High	1.3949
Previous Daily Low	1.3873
Previous Weekly High	1.3984
Previous Weekly Low	1.3737
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.392
Daily Fibonacci 61.8%	1.3902
Daily Pivot Point S1	1.3885
Daily Pivot Point S2	1.3841
Daily Pivot Point S3	1.3809
Daily Pivot Point R1	1.3962
Daily Pivot Point R2	1.3994
Daily Pivot Point R3	1.4038

GBP/USD Weekly Forecast: Why Sterling is set to break higher after weathering negative factors

GBP/USD has rocked and rolled in response to the BOE and Nonfarm Payrolls. UK GDP, US inflation and covid headlines are set to shake cable in the upcoming week. Early August´s daily chart is painting a mixed picture. The FX Poll is showing a bullish trend on all timeframes. Resisting gravity and set to skyrocket? GBP/USD has weathered hawkish tunes from the Fed, strong US jobs and BOE caution. Can it move higher now? The next moves hinge on critical US inflation figures, Britain's covid advantage and UK growth data. Read more...

GBP/USD Forecast: Bailey bails sterling out, Nonfarm Payrolls may test critical support

GBP/USD has weathered dollar strength after the BOE took a hawkish step. US Nonfarm Payrolls are left, right and center for markets. Friday's four-hour chart is showing bulls are in control, and where critical support awaits. Tip-toeing toward tightening – the Bank of England has indicated it is ready to "modestly" change its monetary policy, and that has eventually proved to be positive for the pound. A bigger test is due now. Read more...

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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 revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.