Pound Sterling Price News and Forecast: Pound Sterling plummets on upbeat US NFP data

FXStreet Team FXStreet

Pound Sterling plummets on upbeat US NFP data

The Pound Sterling (GBP) falls sharply from fresh weekly highs in the early New York session on Friday as the United States Bureau of Labor Statistics (BLS) has reported an upbeat labor report – the Nonfarm Payrolls (NFP) for January. Gains were generated on expectations that the Bank of England (BoE) is expected to start reducing interest rates after the Federal Reserve (Fed) and the European Central Bank (ECB) vanished. Read More...

GBP/USD regains above the mid-1.2700s ahead of US NFP data

The GBP/USD pair regains above the 1.2700 mark during the early Asian session on Friday. The Bank of England (BoE) decided to keep the interest rate steady at 5.25% at its January meeting on Thursday, citing the need to see more evidence that inflation would continue falling. Investors await the US Nonfarm Payrolls (NFP) on Friday for fresh impetus. The major pair currently trades around 1.2745, losing 0.01% for the day. Read More...

GBP/USD

Overview
Today last price	1.2631
Today Daily Change	-0.0116
Today Daily Change %	-0.91
Today daily open	1.2747

Trends
Daily SMA20	1.271
Daily SMA50	1.2682
Daily SMA100	1.2471
Daily SMA200	1.2563

Levels
Previous Daily High	1.2756
Previous Daily Low	1.2626
Previous Weekly High	1.2775
Previous Weekly Low	1.2649
Previous Monthly High	1.2786
Previous Monthly Low	1.2597
Daily Fibonacci 38.2%	1.2706
Daily Fibonacci 61.8%	1.2675
Daily Pivot Point S1	1.2663
Daily Pivot Point S2	1.2579
Daily Pivot Point S3	1.2533
Daily Pivot Point R1	1.2794
Daily Pivot Point R2	1.284
Daily Pivot Point R3	1.2924

GBP/USD Price Analysis: Pauses the post-BoE rally near mid-1.2700s ahead of US NFP

The GBP/USD pair struggles to capitalize on the previous day's solid recovery of around 130 pips from the 1.2625 area, or over a two-week low and oscillates in a narrow band during the Asian session on Friday. Spot prices currently trade near mid-1.2700s, closer to the weekly peak, as traders look to the US monthly jobs report before placing fresh bets. Read More...

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FXStreet Team

FXStreet

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