GBP/USD back to 1.40 after FOMC Minutes

Cable reacts positively to a rather neutral FOMC Minutes.
Bullish steam stalled at the key 1.40 barrier, where bulls and bears continue to battle for control.

Jordi Martínez FXStreet

The Pound is gaining ground against the US Dollar, recovering the key psychological 1.40 mark after the Federal Reserve released the minutes of its last monetary policy meeting. A few Fed officials showed concern about the economic outlook, while others highlighted the potential risk for an inflation lag.

The greenback has not digested well the news, being sold across the board, which has pushed Cable slightly above 1.40, just where it started the day. The spike post-FOMC Minutes has seen the pair gaining 50 pips in barely a few minutes, with GBP/USD now having fully recovered from the sell-off during the London session, when it reached an intraday low of 1.3905 after reacting negatively to the UK Employment report.

Technical levels

With the current bullish steam still in place, GBP/USD bulls could take a look at yesterday’s high of 1.4025 as their next target. If that one gets breached, next bullish target might be at 1.4052, this week’s high from early Monday.

On the downside, a USD comeback should target first yesterday’s low of 1.3932, with today’s low of 1.3905 looking like the most important support to break for the bears.

Author

Jordi Martínez

FXStreet

Jordi Martínez is the Editor in Chief at FXStreet, leading editorial operations at the company, before being promoted to the role in 2023, he worked in several editorial positions at FXStreet, including roles as Senior

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD gains ground for the second successive session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator stands at 51 (neutral) after recovering above the midline, indicating stabilizing momentum.

GBP/USD gathers strength above 1.3500 amid tariff confusion

The GBP/USD pair gains traction to around 1.3520 during the early Asian session on Monday. The US Dollar faces some selling pressure against the Cable as tariff uncertainty lingers. Traders will take more cues from the US Producer Price Index report for January, which will be published later on Friday.

Gold climbs to fresh monthly high on trade war fears, geopolitical risks, weaker USD

Gold registered its highest-ever weekly close, above the $5,100 mark on Friday, and gains strong follow-through traction at the start of a new week. This also marks the fourth straight day of a positive move and lifts the commodity beyond the $5,150 level, or a fresh monthly peak, during the Asian session.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.