GBP/USD Price Analysis: Bulls battle against gravity

GBP/USD is in for a bearish monthly close but bulls are testing the bear's commitments in the open.
Bears need the 4-hour resistance to hold for the near term.

Ross J Burland FXStreet

Early forex prices have cable starting out on the bid by some 20 pips. However, the bulls are up against a strong bearish bias as the monthly chart and structure illustrate:

The triple top is bearish and the break of support for a fresh low is also painting a bearish bias on the charts.

From a weekly perspective, there is the argument for a last-minute bid to fill in the wick as follows:

However, from a daily perspective, the downside is in play and there could be an immanant bearish continuation already in play:

The 4-hour chart offers a bearish structure which would be expected to act as resistance, although a break of which will put the bulls in charge for the near term:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD clings to gains near 1.1550 ahead of ECB rate decision

EUR/USD trades in positive territory near 1.1550 in Thursday's European trading hours. Rising bets that the European Central Bank will deliver a rate hike after its June policy meeting, keeping the Euro underpinned against the US Dollar. The focus will be on the ECB's updated projections and Lagarde's words.

GBP/USD: Gains remain capped below 1.3400 ahead of US PPI

GBP/USD is consolidating the rebound below 1.3400 in the European session on Thursday. However, the upside potential appears limited amid increased hawkish Fed bets and looming Mideast geopolitical risks, which could limit the US Dollar's pullback ahead of US PPI data.

Gold steadies above YTD low on softer USD; bearish bias remains amid Fed hike bets

Gold fades a modest Asian session bounce to the $4,118 region, though it manages to hold above the lowest level since November 2025. A softer Core US Consumer Price Index eased concerns about a runaway inflation spiral, weighing on the US Dollar and prompting some intraday short-covering around the precious metal.

XRP and XLM: Mild recovery attempts emerge amid mixed market signals

Ripple (XRP) and Stellar (XLM) show mild signs of recovery on Thursday after extending losses earlier this week. XRP is holding above the $1.10 level as bearish momentum begins to fade, while XLM has bounced modestly from a key support zone.

European Central Bank set to hike interest rates for first time in nearly three years

The European Central Bank is set to announce its monetary policy decision at 12:15 GMT following its June meeting. The Frankfurt-based institution is widely expected to raise its key interest rates by 25 basis points, taking the deposit facility rate to 2.25% from 2%.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.