Pound Sterling weakens as BoE turns slightly dovish on interest rates

FXStreet Team FXStreet

Pound Sterling weakens as BoE turns slightly dovish on interest rates

The Pound Sterling (GBP) remains vulnerable against the US Dollar in Friday’s early New York session as the market sentiment is quite bearish. The GBP/USD pair fails to find support as increasing expectations that the Bank of England (BoE) will cut interest rates this year outweigh February Retail Sales data, which broadly beat market expectations. Read More...

UK Retail Sales arrived at 0% MoM in February vs. -0.3% expected

The UK Retail Sales showed no growth over the month in February vs. -0.3% expected and 3.6% registered in January, according to the latest data published by the Office for National Statistics (ONS) on Friday. Read More...

GBP/USD remains under selling pressure above the mid-1.2700s, UK Retail Sales data eyed

The GBP/USD pair faces rejection near the 1.2700 mark and holds above the mid-1.2700s during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar (USD) and the dovish tilt of the Bank of England (BoE). Investors await the UK Retail Sales for fresh impetus, which is expected to fall 0.3% in February. GBP/USD currently trades near 1.2658, down 0.02% on the day. Read More...

GBP/USD

Overview
Today last price	1.2589
Today Daily Change	-0.0072
Today Daily Change %	-0.57
Today daily open	1.2661

Trends
Daily SMA20	1.2728
Daily SMA50	1.2685
Daily SMA100	1.2637
Daily SMA200	1.2594

Levels
Previous Daily High	1.2804
Previous Daily Low	1.2651
Previous Weekly High	1.2865
Previous Weekly Low	1.2725
Previous Monthly High	1.2773
Previous Monthly Low	1.2518
Daily Fibonacci 38.2%	1.2709
Daily Fibonacci 61.8%	1.2745
Daily Pivot Point S1	1.2607
Daily Pivot Point S2	1.2552
Daily Pivot Point S3	1.2454
Daily Pivot Point R1	1.276
Daily Pivot Point R2	1.2858
Daily Pivot Point R3	1.2913

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD trades with negative bias around 1.1730 amid recovering USD; downside seems limited

The EUR/USD pair kicks off the new week on a softer note, though it remains within striking distance of the highest level since early October, touched last Thursday. Spot prices currently trade around the 1.1730 region, down less than 0.10% for the day.

GBP/USD holds steady above mid-1.3300s as traders await key data and BoE this week

The GBP/USD pair remains on the defensive during the Asian session on Monday, though it lacks bearish conviction and holds above the 200-day Simple Moving Average pivotal support. Spot prices currently trade around the 1.3360 region, nearly unchanged for the day.

Gold regains traction toward $4,350 in the final full week of 2025

Gold price picks up bids once again toward $4,350 in Asian trading on Monday. The precious metal extends its upside to the highest since October 21 amid the prospect of interest rate cuts by the US Federal Reserve next year. The delayed US Nonfarm Payrolls report for October will be in the spotlight later on Tuesday.

Week ahead: US NFP and CPI, BoE, ECB and BoJ mark a busy week

After Fed decision, dollar traders lock gaze on NFP and CPI data. Will the BoE deliver a dovish interest rate cut? ECB expected to reiterate “good place” mantra. Will a BoJ rate hike help the yen recover some of its massive losses?

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.