Pound Sterling Price News and Forecast: Pound Sterling struggles to recover

FXStreet Team FXStreet

Pound Sterling struggles to recover despite BoE seems laggard for rate-cut campaign

The Pound Sterling (GBP) is set to end 2023 with decent gains of almost 5.60%. The rally in the Pound Sterling is backed by consistently surging risk-appetite of the market participants due to easing fears of a global recession. Western central banks will likely wind-up their historically faster rate-tightening campaign amid easing price pressures, which has improved appeal for risk-sensitive assets. Read More...

GBP/USD improves to near 1.2740 on subdued US Dollar, focus on UK housing data

GBP/USD attempts to recover its losses registered in the previous session. The GBP/USD pair trades slightly higher around 1.2740 during the Asian hours on Friday. The US Dollar (USD) attempted to halt its losing streak before the end of the year 2023, but it appears to be struggling to stay in positive territory. The US Dollar Index (DXY) trades lower around 101.10 at the time of writing. Read More...

GBP/USD

Overview
Today last price	1.2746
Today Daily Change	0.0013
Today Daily Change %	0.10
Today daily open	1.2733

Trends
Daily SMA20	1.2659
Daily SMA50	1.2478
Daily SMA100	1.2449
Daily SMA200	1.2527

Levels
Previous Daily High	1.2828
Previous Daily Low	1.2713
Previous Weekly High	1.2762
Previous Weekly Low	1.2612
Previous Monthly High	1.2733
Previous Monthly Low	1.2096
Daily Fibonacci 38.2%	1.2757
Daily Fibonacci 61.8%	1.2784
Daily Pivot Point S1	1.2688
Daily Pivot Point S2	1.2643
Daily Pivot Point S3	1.2572
Daily Pivot Point R1	1.2803
Daily Pivot Point R2	1.2873
Daily Pivot Point R3	1.2918

GBP/USD tumbles from 20-week high as markets reverse flows back into the US Dollar, aimed for 1.2700

The GBP/USD rose in early Thursday’s trading window, climbing to a 20-week high before slumping back and seeing a downside extension sparked by an unexpected climb in US Treasury yields during a 7-year T-note auction.

The US Dollar (USD) is now flat on the week against the Pound Sterling (GBP), declining nearly 0.9% from Thursday’s high as the GBP/USD heads back towards the 1.2700 handle. Read More...

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FXStreet Team

FXStreet

EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

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.