Pound Sterling Price News and Forecast: GBPUSD is awaiting the release of the US Employment data

FXStreet Team FXStreet

GBP/USD remains inside the woods around 1.2050 as investors US NFP

The GBP/USD pair has continued its sideways performance around 1.2050 as investors are awaiting the release of the United States Employment data for fresh cues. The Cable asset displayed a wild gyration after the United States Institute of Supply Management (ISM) reported a shrink in the volume of manufacturing activities consecutively for the second time and then continued to auction sideways.

GBP/USD

Overview
Today last price	1.2059
Today Daily Change	0.0086
Today Daily Change %	0.72
Today daily open	1.1973

Trends
Daily SMA20	1.2143
Daily SMA50	1.1932
Daily SMA100	1.1666
Daily SMA200	1.2035

Levels
Previous Daily High	1.2085
Previous Daily Low	1.1901
Previous Weekly High	1.2126
Previous Weekly Low	1.2002
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.1971
Daily Fibonacci 61.8%	1.2015
Daily Pivot Point S1	1.1887
Daily Pivot Point S2	1.1802
Daily Pivot Point S3	1.1703
Daily Pivot Point R1	1.2072
Daily Pivot Point R2	1.2171
Daily Pivot Point R3	1.2257

GBP/USD Forecast: Pound Sterling faces strong resistance at 1.2100

Following Tuesday's sharp decline, GBP/USD has regained its traction and climbed above 1.2050 early Wednesday, erasing all of the previous day's losses in the process. In case risk flows continue to dominate the financial markets, the pair could test the key resistance area that seems to have formed at 1.2100.

GBP/USD clings to daily gains near 1.3350

GBP/USD holds just in positive territory around 1.3350 on Friday as the Greenback keeps a vacillating price action. With Fed rate hike expectations easing and US markets closed for the Independence Day holiday, Cable remains on track to post solid weekly gains.

EUR/USD remains sidelined around 1.1440

EUR/USD holds on to its recent gains and consolidates around 1.1440 at the end of the week as the US Dollar lacks clear direction. In the meantime, trading conditions remain subdued, with volatility constrained by the closure of US markets for the Independence Day holiday.

Gold flirts with two-week highs, targets $4,200

Gold extends its recovery for a third straight day, advancing toward the $4,200 mark per troy ounce on Friday. The precious metal looks set to snap a four-week losing streak as softer-than-expected June US NFP data prompt investors to scale back expectations of further Fed tightening.

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Bitcoin maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum and Ripple are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.

The Iran war failed to trigger a recession. Can the US economy keep defying expectations?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.