Pound Sterling Price News and Forecast: Pound Sterling extends recovery on upbeat market mood

FXStreet Team FXStreet

Pound Sterling extends recovery on upbeat market mood, investors digest soft UK CPI

The Pound Sterling (GBP) discovers an interim support near 1.2640 despite the United Kingdom Consumer Price Index (CPI) for November has deepened expectations of early rate cuts by the Bank of England (BoE). The GBP/USD pair is expected to remain volatile as the Pound Sterling has lost its competitive advantage of a longer restrictive policy stance after a sharp decline in inflation. Read More...

GBP/USD maintains its position below 1.2650, focus on US GDP data

GBP/USD hovers around 1.2640 during the Asian hours on Thursday, attempting to recover its recent losses registered on Wednesday. The Pound Sterling (GBP) faced a challenge due to downbeat inflation from the United Kingdom (UK). Additionally, the US Dollar (USD) witnessed gains on improved economic data from the United States (US). Read More...

GBP/USD remains on the defensive below the mid-1.2600s ahead of US GDP data

The GBP/USD pair holds below the mid-1.2600s during the early Asian trading hours on Thursday. The downtick of the pair is backed by the weaker-than-expected UK inflation data and a modest recovery of the US Dollar (USD). At press time, the major pair is trading at 1.2638, up 0.08% on the day. Read More...

GBP/USD

Overview
Today last price	1.2687
Today Daily Change	0.0060
Today Daily Change %	0.48
Today daily open	1.2627

Trends
Daily SMA20	1.2631
Daily SMA50	1.2411
Daily SMA100	1.2449
Daily SMA200	1.2511

Levels
Previous Daily High	1.2735
Previous Daily Low	1.2626
Previous Weekly High	1.2794
Previous Weekly Low	1.2501
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2668
Daily Fibonacci 61.8%	1.2693
Daily Pivot Point S1	1.259
Daily Pivot Point S2	1.2554
Daily Pivot Point S3	1.2482
Daily Pivot Point R1	1.2699
Daily Pivot Point R2	1.2771
Daily Pivot Point R3	1.2807

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.

160.80: Japanese Yen remains close to nearly two-year lows

USD/JPY inches lower after four days of gains, trading around 160.60 during the Asian hours. The USD/JPY pair surged to 160.80 the previous day, marking its highest level since July 2024 and significantly heightening speculation that Japanese authorities could soon intervene to support the struggling Yen.

Australian Dollar remains in positive territory after paring recent gains

AUD/USD pares its daily gains, remaining in the positive territory and trading around 0.7010 during the European hours. The pair appreciated as the Australian Dollar received support from prevailing hawkish sentiment surrounding the Reserve Bank of Australia’s policy outlook.

Gold adds to recent losses, remains below $4,250

Gold struggles to attract buyers on Thursday and remains in negative territory below $4,250 per troy ounce. The precious metal finds some support from the easing of tensions in the Middle East, which has helped stabilise market sentiment, but broad-based US Dollar strength following the Fed meeting continues to weigh on price action.

Crypto Today: Bitcoin, Ethereum and XRP pare losses on increasing bets of Fed tighter monetary policy

Cryptocurrency prices are broadly moderating downwards on Thursday, as market participants assess the impact of the Federal Reserve’s (Fed) hawkish monetary policy stance.

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.

The next big AI trade may not be about chips or software

Artificial intelligence has already created some of the biggest winners in modern market history. Chipmakers have surged, data centre construction is booming, and electricity demand forecasts are changing globally.