- GBP/USD increases positions above 50-day SMA, because the market is digested by negotiations in the USA.
- The American labor market shows strength, and ADP employment data exceed expectations, distinguishing non -pharmarous wages.
- Economic indicators in Great Britain show a slight crisis, with the eyes of the expert reduced Boe rate.
The pound of sterling remains auction on the third day in a row, rises by 0.34%, because GBP/USD trades to 1.2519 above 50-day straight movable average (SMA) to 1.2501.
GBP/USD rises modestly, reinforced with positive market moods
Greenback removed most of the Monday profits, stimulated by the US to apply tariffs to Mexico and Canada. However, both countries have achieved contracts with Washington. That is why investors who once seemed uncertain of commercial policy in the US are convinced that US President Donald Trump uses tariffs as a “tool” to negotiate with allies and opponents.
The data was taken by the rear seat, and traders look at the release of American non -phear payroll numbers for January. In Wednesday’s American Docket contained a national change in ADP employment for January. The numbers exceeded 150k estimates and increased by 183,000, indicating strength on the labor market.
At the same time, economic activity was still getting worse. S&P Global Services PMI for January, which fell from 56.8 to 52.9, better than expected 52.8. Later in the Institute of Supply Management (ISM) it will contain PMI without production, expected from 54.1 to 54.3.
On the other side of the pond, the January UK S&P Global Services PMI fell from 51.1 to 50.8 as the economic conditions deteriorate. According to the main market data, traders are waiting for the decision of the monetary policy of the Bank of England (Boe), ready to reduce rates by 25 base points (BPS) from 4.75% to 4.50%.
Source: Main market terminal
GBP/USD price forecast: Technical perspectives
GBP/USD cleaned the peak on January 27 1,2523, a mighty level of resistance and reached a novel four -week peak at 1.2549. Although stubborn, everyday approach above the first one opened the door to challenge the annual (YTD) challenge of the highest 1.2575 and the number 1,2600.
If there is no failure of 1.2550, sellers can be set to lower GBP/USD, with transactions of 1.2400. The next minus lies below January 2 the lowest 1,2351, followed by the lowest level on February 3 1,2248.
The price of the British pound today
The table below shows a percentage change in the British pound (GBP) in relation to the main currencies. The British pound was the strongest in relation to the American dollar.
| USD | EUR | GBP | JPy | BOOR | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.42% | -0.25% | -1.23% | -0.20% | -0.39% | -0.66% | -0.45% | |
| EUR | 0.42% | 0.19% | -0.78% | 0.22% | 0.03% | -0.25% | -0.02% | |
| GBP | 0.25% | -0.19% | -0.97% | 0.04% | -0.15% | -0.42% | -0.21% | |
| JPy | 1.23% | 0.78% | 0.97% | 1.04% | 0.84% | 0.56% | 0.78% | |
| BOOR | 0.20% | -0.22% | -0.04% | -1.04% | -0.19% | -0.45% | -0.25% | |
| Aud | 0.39% | -0.03% | 0.15% | -0.84% | 0.19% | -0.27% | -0.08% | |
| NZD | 0.66% | 0.25% | 0.42% | -0.56% | 0.45% | 0.27% | 0.22% | |
| CHF | 0.45% | 0.02% | 0.21% | -0.78% | 0.25% | 0.08% | -0.22% |
The heat map shows percentage changes in the main currencies towards each other. The basic currency is collected from the left, and the quote currency is collected from the upper order. For example, if you choose a British pound on the left column and move along the horizontal line to the American dollar, the percentage shift displayed in the field will represent GBP (base)/USD (quote).
