GBP/USD looks neutral in the near term – UOB

Pablo Piovano FXStreet

FX Strategists at UOB Group remain neutral on Cable while added that further consolidation is expected in the short-term horizon.

Key Quotes

24-hour view: “Expectation for a ‘dip below 1.3070’ did not pan out as GBP recovered from a low of 1.3082 and subsequently traded sideways. Indicators have turned ‘flat’ and further muted price action seems likely from here. Expected range for today; 1.3080/1.3150”.

Next 1-3 weeks: “There is not much to add as GBP traded within a tight 49 pips range last Friday, the narrowest 1-day range in two months. The quiet consolidation offers no fresh clue and we continue to hold a neutral stance and expect GBP to trade sideways from here, likely within a 1.3010/1.3220 range”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD edges lower due to safe-haven demand

GBP/USD inches lower after opening at a bullish gap, trading around 1.3200 during the Asian hours on Monday. The pair loses ground as the Pound Sterling declines against the US Dollar amid emerging safe-haven demand, which could be attributed to the United States-Iran talks uncertainty.

EUR/USD steadies below 1.1400; Lagarde speech in spotlight

The EUR/USD pair holds steady near 1.1385 during the early European trading hours. Traders continue to assess the developments surrounding talks to end the US war with Iran. The European Central Bank's annual forum and the US June employment data will be the highlights later this week.

Gold looks south amid US-Iran uncertainty and Death Cross in play

Gold snaps a two-day rebound from seven-month lows, as sellers return in the Nonfarm Payrolls week ahead. The US Dollar holds the previous bounce amid renewed Mideast tensions, hawkish Fed bets. Gold stays a ‘sell on rise’ trade amid bearish RSI and Death Cross on the daily chart.

BTC rebounds; ETH and XRP defend key support following recent correction

Bitcoin, Ethereum and Ripple are showing early signs of stabilization after a correction of nearly 6%, 8% and 7% respectively, over the previous week. BTC reclaims $60,000, ETH is holding firmly above the critical $1,500 support level, while XRP is also attempting to stabilize around the key $1.00 psychological level.

Middle East War updates: US, Iran appear to be returning to talks to end the war

Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.