- GBP/USD will slip 0.07% after hitting 1.3788; Steps only psychological question 1,3800.
- Labor holes in the USA reached a 7-month level; ISM production slightly improves, but remains opposite.
- Baeley Boe signals softening the labor market; PMI production in Great Britain stays stable at 47.7.
The Sterling pound (GBP) loses its ground compared to the American dollar after reaching the novel three -year peak of 1.3788, just in terms of 1.3800. Economic data from the United States (USA), along with the pigeons of the Governor of the Bank of England (Boe) Bailey, exerted pressure on pairs. GBP/USD trades at 1.3721, which is at least 0.07%.
Sterling Retreat up to 1.3721 after reaching the summit in 1.3788, exerted on the pressure of the US Data and Bailey’s Treck tips
The market mood has become a bit negative. The last JOLTS report revealed that job offers in May increased to the highest level since November, reaching 7.769 million, compared to 7.391 million, and exceeding the forecasts of 7.3 million. At the same time, the Institute for Supply Management (ISM) announced that the economic activity increased in June, although it contracted during the fourth month in a row. The index increased by 49.0, compared to 48.5 in May, above estimates 48.8.
The chairman of the Federal Reserve Jerome Powell revealed that politics is modestly restrictive and added that he could not say if July is too early to lower the rates, although it does not exclude anything.
In the meantime, the US Senate is ready to pass 3.3 trillion USD “One Big Beautiful Bill”, which President Donald Trump intends to sign until July 4.
On the other side of the pond, Boe Bailey said that the labor market is cooling, which suggests that the path of the interest rates tilted to the minus.
Earlier, British economic data revealed that the production conditions remain tender, according to S&P Global, and PMI production remained unchanged at 47.7 compared to the May, fulfilling estimates.
GBP/USD price forecast: Technical perspectives
The pair creates a “inverted hammer”, showing that buyers are reluctant to push the GBP/USD exchange rate each 1,3800. Liquid rush seems to disappear, as shown by a relative force indicator (RSI), reaching the peak and aiming at its 50-neutral line.
For a bear, the pair must neat 1,3700. After completing the next support would be the highest level of June 13, and now support at 1.3631, followed by a 20-day SMA at 1.3584. And vice versa, if GBP/USD increases after 1.3800, expect a 1.4000 test.
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 Canadian dollar.
| USD | EUR | GBP | JPy | BOOR | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.11% | 0.12% | -0.37% | 0.36% | 0.13% | 0.08% | -0.06% | |
| EUR | -0.11% | 0.03% | -0.57% | 0.26% | 0.10% | -0.04% | -0.15% | |
| GBP | -0.12% | -0.03% | -0.49% | 0.25% | 0.08% | -0.06% | -0.18% | |
| JPy | 0.37% | 0.57% | 0.49% | 0.78% | 0.49% | 0.44% | 0.32% | |
| BOOR | -0.36% | -0.26% | -0.25% | -0.78% | -0.25% | -0.31% | -0.43% | |
| Aud | -0.13% | -0.10% | -0.08% | -0.49% | 0.25% | -0.13% | -0.26% | |
| NZD | -0.08% | 0.04% | 0.06% | -0.44% | 0.31% | 0.13% | -0.12% | |
| CHF | 0.06% | 0.15% | 0.18% | -0.32% | 0.43% | 0.26% | 0.12% |
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).
