Pound Sterling Price News and Forecast: GBPUSD is jugging below 1.2350

FXStreet Team FXStreet

GBP/USD oscillates below 1.2350, downside looks favored on hawkish Fed commentary

The GBP/USD pair is displaying back-and-forth moves after a south-side drive below the critical resistance of 1.2350 in the early Tokyo session. The Cable witnessed sheer selling pressure on Wednesday after failing to sustain above 1.2435 as hawkish commentaries from Federal Reserve (Fed) policymakers trimmed the risk appetite of the market participants heavily.

GBP/USD

Overview
Today last price	1.2325
Today Daily Change	-0.0013
Today Daily Change %	-0.11
Today daily open	1.2338

Trends
Daily SMA20	1.2108
Daily SMA50	1.2086
Daily SMA100	1.1707
Daily SMA200	1.1985

Levels
Previous Daily High	1.2436
Previous Daily Low	1.2255
Previous Weekly High	1.2249
Previous Weekly Low	1.2086
Previous Monthly High	1.2447
Previous Monthly Low	1.1992
Daily Fibonacci 38.2%	1.2367
Daily Fibonacci 61.8%	1.2324
Daily Pivot Point S1	1.225
Daily Pivot Point S2	1.2162
Daily Pivot Point S3	1.2068
Daily Pivot Point R1	1.2431
Daily Pivot Point R2	1.2524
Daily Pivot Point R3	1.2613

Pound jumps as inflation eases

The British pound is in full flight on Wednesday. In the North American session, GBP/USD is trading at 1.2393, up 0.86%. UK inflation eased for a second straight month in December. Headline CPI dipped to 10.5%, down from 10.7% in November and just below the forecast of 10.6%. Core CPI, however, did not show an improvement as it remained unchanged at 6.3%.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.