- The GBP/USD is quoted at 1,2885, a fall of 0.06%, after not being able to maintain the impulse above 1,2900.
- The US labor market shows resilience, with unemployment applications below what expected in 221k.
- The BOE is cautious with respect to feat cuts, while the United Kingdom construction sector contracts at May 2020 levels.
- The operators are pending the US non -agricultural payroll data, which is expected to increase in 160K in February.
The sterling pound rally stopped after maintaining three consecutive days of profits. It remains firmly below 1,2900 after reaching a maximum of the year (YTD) of 1,2923. At the time of writing, the GBP/USD quotes at 1,2885 and records minimum losses of 0.06%.
The pound remains close to the maximum of the year but fights for more profits
The mood on the market is still negative in the midst of a commercial war promoted by the United States, which imposed tariffs on imports from Canada, Mexico and China. Although three of the largest US car manufacturers experienced a month delay in tariffs on cars imports in Mexico and Canada, investors are going to safe refuge assets.
The US Department of Labor revealed that the labor market is still in good form after publishing the initial unemployment applications for the week that ended on March 1. Applications increased to 221K, below the estimates of 235K and 242K last week.
On Wednesday, the Federal Reserve (FED) revealed in its book Beige that economic activity increased slightly, employment rose and prices increased. However, the commercial policies of US President Trump keep companies and households in uncertainty.
Other data showed that US commercial deficits were expanded in January, since companies advanced purchases before tariffs.
On the other side of the Atlantic, the officials of the Bank of England (BOE) affirmed that they would be very cautious when the policy flexible, since they are still concerned about a possible re-beaten of inflation. Meanwhile, the Global S&P construction PMI contracted in February, reaching its lowest level since May 2020.
In next week, the GBP/USD operators are pending the publication of non -agricultural payrolls of the US for February, which is expected to increase in 160K, compared to 143K in January.
GBP/USD price forecast: technical perspective
Technically speaking, the GBP/USD should continue looking for higher levels after exceeding the simple mobile average (SMA) of 200 days in 1,2786 and exceeding the last maximum of the cycle in 1,2811, the maximum of December 6. If the torque closes on a daily base above 1,2900, a movement towards 1.3000 is in the cards.
Otherwise, sellers could push the exchange rate to 1,2811, the last resistance turned into support, before challenging 1,2800.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. Libra sterling was the strongest currency against pound sterling.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.35% | 0.10% | -0.64% | -0.41% | -0.17% | -0.28% | -0.62% | |
| EUR | 0.35% | 0.46% | -0.22% | -0.06% | 0.19% | 0.07% | -0.27% | |
| GBP | -0.10% | -0.46% | -0.67% | -0.51% | -0.26% | -0.37% | -0.69% | |
| JPY | 0.64% | 0.22% | 0.67% | 0.14% | 0.40% | 0.25% | -0.04% | |
| CAD | 0.41% | 0.06% | 0.51% | -0.14% | 0.26% | 0.13% | -0.19% | |
| Aud | 0.17% | -0.19% | 0.26% | -0.40% | -0.26% | -0.12% | -0.44% | |
| NZD | 0.28% | -0.07% | 0.37% | -0.25% | -0.13% | 0.12% | -0.31% | |
| CHF | 0.62% | 0.27% | 0.69% | 0.04% | 0.19% | 0.44% | 0.31% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
