GBP/USD still bullish, extra GBP upside unlikely – UOB

Pablo Piovano FXStreet

In opinion of FX Strategists at UOB Group, Cable keeps the bullish stance unchanged although further gains appears somewhat unlikely in the near term.

Key Quotes

24-hour view: “GBP briefly touched a low of 1.3450 during last NY session before rebounding quickly. Despite the bounce, the undertone is still weak and a retest of 1.3450 would not be surprising. At this stage, a clear break below this level is not expected. Resistance is at 1.3550 followed the 1.3595 high registered last Friday. The latter level is unlikely to come into the picture”.

“While the robust recovery yesterday bodes well for GBP, we still hold the view that the odds for a break above the major weekly trendline resistance at 1.3655 have diminished. That said, only a move back below 1.3440 (stop-loss level unchanged) would indicate that the bullish phase that started 2 weeks ago (08 Sep, spot at 1.3100) has ended. In the meanwhile, GBP could consolidate between 1.3440 and 1.3655 for a couple of days before making the ‘decision’ to head higher or lower”.

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 tumbles to three-day lows around 1.3420

GBP/USD comes under extra selling pressure and revisits the area of multi-day lows near 1.3420 in quite a bearish start to the week. Cable’s decline comes amid the firmer Greenback as investors continue to assess developments in the US-Iran conflict. Moving forward, attention will turn to the UK employment report on Tuesday.

EUR/USD meets some initial contention around 1.1400

EUR/USD keeps the bearish bias well in place, slipping back toward the 1.1400 region, where some initial support appears to have turned up. The auspicious start to the week of the US Dollar has kept the risk complex under pressure as investors has continued to closely follow developments from the Middle East conflict. The release of the ZEW Economic Sentiment in the Euroland and Germany are next on tap on the domestic calendar.

Gold stuck just above $4,000

Gold reverses Friday’s uptick, gyrating around the key $4,000 mark per troy ounce at the beginning of the week. Escalating military action in the Middle East provides some support to the safe-haven metal, although expectations of higher US interest rates bolster the US Dollar and keeps its under the microscope.

Ethereum Price Forecast: BitMine slows ETH accumulation in favor of share buybacks

Ethereum (ETH) is hovering near $1,900 following a drop in accumulation by BitMine Immersion Technologies (BMNR) in favor of $85 million worth of share buybacks and continued recovery in ETH exchange-traded funds (ETFs). Ethereum treasury firm BitMine scooped up 7,430 ETH last week, marking its lowest weekly acquisition since pivoting to a crypto treasury model.

Here's where the Canadian Dollar is headed next: 4 bearish scenarios and a bullish one

The Canadian Dollar (CAD) has ridden a volatile first half of the year, with Oil prices surging and then falling as markets danced to the Middle East’s tune. Neither the Bank of Canada nor the Federal Reserve has changed rates so far this year, and the USD/CAD's next move may depend on which of the two banks fails to deliver what markets expect.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.