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Sterling trades in a tight range near 1.3450 as jobs data stirs USD
Sterling is holding just above the 50-day and 200-day EMA near 1.3400, while US private payrolls and ISM services employment weakened and contributed to a softer dollar.
Sterling is unable to push out of its recent range, with price action confined after Monday’s rebound stalled just short of 1.3500. During the two sessions since, trading has remained entirely inside the same capped moving-average band, with the pound changing hands around 1.3450, up about 0.1% and adding no net movement over 48 hours.
Technical levels remain closely watched, with the 50-day and 200-day exponential moving averages converged slightly below 1.3400. FXStreet reports price is holding a small margin above both averages, while today’s trading range runs barely 40 pips and the daily Stoch RSI sits near 25.
The move is being driven more by US releases than by UK-specific factors, according to FXStreet. Private payrolls came in at 44K versus a 70K consensus, and the ISM services employment index fell to 47.4 from 51.2, with other components pointing to accelerating input costs and new orders at 57.2 from 55.1.
FXStreet also notes that rate pricing shifted alongside the data, with odds for a September increase trimmed toward the high fifties from the high sixties over the prior two sessions. The backdrop includes a cut remaining priced nowhere in 2026, and the report links the softer pricing to the collapse in crude oil as well as the weaker labor signal.
Latest closeWTI crude $75.12 ▼0.9%