Pound Sterling Price News and Forecast: GBP/USD drifts lower to 1.2682 ahead of UK GDP


GBP/USD Price Analysis: The immediate upside barrier is seen at 1.2740

The GBP/USD pair struggles to gain ground during the early European session on Friday. The major pair remains capped below the 1.2700 psychological mark ahead of the top-tier economic data from both the United Kingdom (UK) and the United States (US). At press time, GBP/USD is trading at 1.2682, down 0.04% on the day.

Technically, GBP/USD maintains a positive outlook as the pair holds above the 100-hour Exponential Moving Averages (EMA) on the four-hour chart. Furthermore, the Relative Strength Index (RSI) stands in bullish territory above 50, indicating the further upside looks favorable. Read more...

GBP/USD remains below 1.2700 mark ahead of UK macro data and US PCE Price Index

The GBP/USD pair struggles to build on the previous day's solid bounce of around 85 pips from the 1.2610 region, or a one-week low and oscillates in a range during the Asian session on Friday. Spot prices remain below the 1.2700 mark as traders now look to the important macro releases from the UK and the US before positioning for a firm intraday direction.

The UK Office for National Statistics will publish the monthly Retail Sales report during the early European session, along with the final Q3 GDP print. Meanwhile, the US economic docket features the Core Personal Consumption Expenditure (PCE) Price Index, which should influence the Federal Reserve's (Fed) future policy decisions. This, in turn, will drive the US Dollar (USD) demand and provide some meaningful impetus to the GBP/USD pair. Read more...

GBP/USD

Overview
Today last price 1.2685
Today Daily Change -0.0003
Today Daily Change % -0.02
Today daily open 1.2688
 
Trends
Daily SMA20 1.2638
Daily SMA50 1.2422
Daily SMA100 1.2449
Daily SMA200 1.2514
 
Levels
Previous Daily High 1.2696
Previous Daily Low 1.2612
Previous Weekly High 1.2794
Previous Weekly Low 1.2501
Previous Monthly High 1.2733
Previous Monthly Low 1.2096
Daily Fibonacci 38.2% 1.2664
Daily Fibonacci 61.8% 1.2644
Daily Pivot Point S1 1.2635
Daily Pivot Point S2 1.2582
Daily Pivot Point S3 1.2551
Daily Pivot Point R1 1.2718
Daily Pivot Point R2 1.2749
Daily Pivot Point R3 1.2802

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD tests 1.0700 as Trump declares victory

EUR/USD tests 1.0700 as Trump declares victory

EUR/USD stays under strong bearish pressure and trades near 1.0700, losing over 2% on the day. The US Dollar rallies as Republican nominee Donald Trump becomes the 47th president of the US after winning key swing states, weighing heavily on the pair. 

EUR/USD News
GBP/USD slums toward 1.2850 as Trump win boosts USD

GBP/USD slums toward 1.2850 as Trump win boosts USD

GBP/USD stays on the back foot and drops toward 1.2850 following a short-lasting recovery attempt. The US Dollar outperforms its rivals and doesn't allow the pair to gain traction as Donald Trump completes his political comeback, winning the presidential election.

GBP/USD News
Gold drops below $2,700, US yields surge higher as Trump claims victory

Gold drops below $2,700, US yields surge higher as Trump claims victory

Gold extends it slide and trades at a fresh multi-week low below $2,700 as markets react to Donald Trump's victory in the presidential election. The benchmark 10-year US Treasury bond yield rises more than 4% on the day, forcing XAU/USD to stretch lower.

Gold News
Bitcoin breaks all-time high of $73,777 as Trump takes the lead

Bitcoin breaks all-time high of $73,777 as Trump takes the lead

Bitcoin breaks above its all-time high of $73,777 on Wednesday, buoyed by Donald Trump's poll lead. At the same time, Ethereum is nearing its key resistance level, with a strong close above it, potentially signaling upward momentum. Meanwhile, Ripple finds support around its daily level.

Read more
Trump wins: Tax cuts come with a cost

Trump wins: Tax cuts come with a cost

Donald Trump’s victory will ensure a lower tax environment that should boost sentiment and spending in the near term. However, promised tariffs, immigration controls and higher borrowing costs will increasingly become headwinds through his presidential term.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures