GBP/SD gains after Powell’s speech left some clues about cautiousness for tapering. US Core PCE data could not impress the Dollar bulls. Technically, the pair is supported by key SMAs. The GBP/USD pair has gained a positive outlook on Friday. The much-awaited Jackson Hole Symposium and Powell’s speech helped the bulls. The GBP/USD pair is trading at 1.3763, up 0.47% on the day during the New York session on Friday. –Are you interested to learn more about ECN brokers? Check our detailed guide- The British Pound started positively on the day despite kicking off below the 1.3700 mark. The pair remained in a narrow range, providing no clear direction. However, the price started rising just before Powell’s speech. The Sterling posts fresh weekly highs. Powell’s speech According to Jerome Powell, the US Federal Reserve is well-positioned to respond to the economic outlook, saying he and his counterparts expect to slow down asset purchases by the end of the year. Nonetheless, he appeared cautious about removing irritants. An untimely policy move will unnecessarily slow hiring and other economic activity and drop inflation below desired, Powell noted. Today, with a significant labor gap and an ongoing pandemic, such a mistake could be devastating. Get FREE Forex Signals Now! This could indicate Powell is not on the same schedule as other Fed officials pushing for the cancellation of asset purchases, delaying the start of the phase-out process. US Core PCE data The US Core PCE data came earlier during the session. The figures came at 0.3% that matched the expectations, while the previous reading was 0.5%. All other variables were upbeat except personal spending that came at -0.3%. –Are you interested to learn more about making money in forex? Check our detailed guide- GBP/USD price technical outlook: Key SMAs to support upside GBP/USD 4-hour price outlook The GBP/USD pair found traction, gaining weekly highs, testing the upper ban of descending trend channel. Further on the upside, the price may find resistance at 200-period SMA on the 4-hour chart 1.3800. On the downside, the pair may find support at 1.3730 area (congestion of 20 and 50 SMAs) ahead of the 1.3700 mark. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next DASH Slides to $229 (Down -1.72%)- Where to Buy DASH? Ali B. 1 year GBP/SD gains after Powell’s speech left some clues about cautiousness for tapering. US Core PCE data could not impress the Dollar bulls. Technically, the pair is supported by key SMAs. The GBP/USD pair has gained a positive outlook on Friday. The much-awaited Jackson Hole Symposium and Powell’s speech helped the bulls. The GBP/USD pair is trading at 1.3763, up 0.47% on the day during the New York session on Friday. –Are you interested to learn more about ECN brokers? Check our detailed guide- The British Pound started positively on the day despite kicking off below the 1.3700 mark. The pair… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.