Pound Sterling Price News and Forecast: GBPUSD is expecting more upside above 1.2250

FXStreet Team FXStreet

GBP/USD sees an upside above 1.2250 ahead of UK Inflation data

The GBP/USD pair is struggling to extend gains above the immediate resistance of 1.2250 in the early Asian session. The Cable has sensed selling pressure while overstepping the aforementioned resistance a few times but is now expected to extend the rally upside amid a significant improvement in the risk appetite of the market participants.

GBP/USD

Overview
Today last price	1.2227
Today Daily Change	-0.0007
Today Daily Change %	-0.06
Today daily open	1.2234

Trends
Daily SMA20	1.2088
Daily SMA50	1.2038
Daily SMA100	1.1688
Daily SMA200	1.1997

Levels
Previous Daily High	1.2249
Previous Daily Low	1.2151
Previous Weekly High	1.2249
Previous Weekly Low	1.2086
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.2211
Daily Fibonacci 61.8%	1.2188
Daily Pivot Point S1	1.2174
Daily Pivot Point S2	1.2113
Daily Pivot Point S3	1.2076
Daily Pivot Point R1	1.2272
Daily Pivot Point R2	1.2309
Daily Pivot Point R3	1.237

GBP/USD Weekly Forecast: Pound Sterling looks to 1.2450 in the UK inflation week

GBP/USD has booked the second straight week of 2023 in the green, as sellers refuse to give up on the United States Dollar (USD) amid dovish US Federal Reserve (Fed) expectations. Will the Pound Sterling bulls extend control in the United Kingdom Consumer Price Index (CPI) week?

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold recovers above $5,100 ahead of US NFP report

Gold price jumps back above $5,100 in the Asian session on Friday. The precious metal regains traction, helped by a fresh bout of US Dollar selling and persisting risk-off flows. The US employment report for February will take center stage later on Friday.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.