Created
: 2024.12.04
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
GBP/USD Price Forecast: Struggles to crack 1.2700, oscillates around 1.2650
World FX news
Breaking news
GBP/USD Price Forecast: Struggles to crack 1.2700, oscillates around 1.2650
New
2024.12.05 00:00
2024.12.05 00:00
2024.12.05 00:00
- GBP/USD sees limited movement, fluctuating between 1.2630 and 1.2700 despite breaching the upper boundary briefly.
- Market awaits US Nonfarm Payrolls report, keeping GBP/USD in a consolidation phase with a neutral RSI.
- Potential downside risk if the pair falls below 1.2650, with subsequent supports at 1.2600 and 1.2506.
The GBP/USD fluctuated between gains/loses, trapped at around the 1.2630-1.2700 range for the third consecutive day. Despite cracking 1.2700, buyers remain unable to drive prices higher amid dovish remarks by Bank of England (BoE) Governor Andrew Bailey.
GBP/USD Price Forecast: Technical outlook
The GBP/USD downtrend paused as the pair printed a leg-up towards 1.2749 before dropping below 1.2700. Momentum shows that neither buyers nor sellers are in charge, with the Relative Strength Index (RSI) turning flat at around neutral levels.
This and the GBP/USD consolidation suggest the pair will remain subdued ahead of the crucial US Nonfarm Payrolls report.
If GBP/USD falls below 1.2650, the next support would be 1.2600. Once surpassed, the next stop would be the November 26 low of 1.2506, followed by the November 22 low of 1.2486, ahead of the YTD low of 1.2299.
Conversely, if GBP/USD climbs above 1.2700, look for a test of the 200-day Simple Moving Average (SMA) at 1.2818.
GBP/USD Price Chart - Daily
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.11% | -0.00% | 0.94% | -0.00% | 1.12% | 0.69% | 0.04% | |
| EUR | -0.11% | -0.11% | 0.82% | -0.07% | 1.00% | 0.57% | -0.08% | |
| GBP | 0.00% | 0.11% | 0.96% | 0.00% | 1.12% | 0.68% | 0.03% | |
| JPY | -0.94% | -0.82% | -0.96% | -0.94% | 0.17% | -0.27% | -0.91% | |
| CAD | 0.00% | 0.07% | -0.00% | 0.94% | 1.12% | 0.68% | 0.03% | |
| AUD | -1.12% | -1.00% | -1.12% | -0.17% | -1.12% | -0.43% | -1.07% | |
| NZD | -0.69% | -0.57% | -0.68% | 0.27% | -0.68% | 0.43% | -0.65% | |
| CHF | -0.04% | 0.08% | -0.03% | 0.91% | -0.03% | 1.07% | 0.65% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Last updated
: 2024.12.05
Related articles
BoJ's Nakamura: Personally not confident about sustainability of wage growth
24 minutes agoPBOC sets USD/CNY reference rate at 7.1879 vs. 7.1934 previous
49 minutes agoAustralian Dollar attracts some sellers as weaker data spurs RBA rate cut speculation
54 minutes agoAustralia's Trade Surplus increases to 5,953M MoM in October vs. 4,500M expected
2024.12.05 09:46Fed's Daly: No urgency to decrease interest rates
2024.12.05 08:52Beige Book: Fed districts report slight growth, rising business optimism for 2025
2024.12.05 08:20
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
US President-elect Trump's adviser: Trump wants to implement an Israel-Gaza cease-fire deal before Jan 20
According to Reuters, an adviser to US President-elect Donald Trump said on Thursday that he "wants to implement an Israel-Gaza cease-fire deal Gaza without delay and before January 20.
New
2024.12.05 11:04BoJ's Nakamura: Personally not confident about sustainability of wage growth
BoJ's Nakamura Personally not confident about sustainability of wage growth.
New
2024.12.05 10:41PBOC sets USD/CNY reference rate at 7.1879 vs. 7.1934 previous
On Thursday, the People's Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1879, as compared to the previous day's fix of 7.1934 and 7.2664 Reuters estimates.
New
2024.12.05 10:15Australian Dollar attracts some sellers as weaker data spurs RBA rate cut speculation
The Australian Dollar (AUD) remains under selling pressure on Thursday.
New
2024.12.05 10:11Australia's Trade Surplus increases to 5,953M MoM in October vs. 4,500M expected
Australia's trade surplus increased to 5,953M MoM in October versus 4,500M expected and 4,609M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday.
New
2024.12.05 09:46Fed's Daly: No urgency to decrease interest rates
Federal Reserve Bank of San Francisco President Mary Daly said on Wednesday that the central bank does not need to be urgent on rate cuts and more work ahead to achieve 2% inflation and lasting growth.
New
2024.12.05 08:52Beige Book: Fed districts report slight growth, rising business optimism for 2025
The Federal Reserve (Fed) commented in its latest Beige Book survey released on Wednesday that US economic activity increased slightly in November after little change in preceding months, and US businesses grew more upbeat about demand prospects.
New
2024.12.05 08:20USD/CAD strengthens above 1.4050 as traders await US labour market data
The USD/CAD pair edges higher to near 1.4075 during the early Asian session on Thursday.
New
2024.12.05 08:10EUR/AUD Price Forecast: Snaps 4-day losses, climbs past 1.6350
The EUR/AUD snaps four days of losses and climbs over 0.86% on Wednesday, late in the North American session.
New
2024.12.05 07:38NZD/JPY Price Analysis: Pair Stabilizes Around 88.10 as Bears Take a Breather
The NZD/JPY pair stabilized around 88.10 on Wednesday, following a decline earlier in the week that saw the pair drop towards the 88.00 level.
New
2024.12.05 06:54Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
