GBP/USD: Technical signals point to further losses ahead towards 1.30 – Scotiabank

FXStreet Insights Team FXStreet

GBP/USD pressures the 1.33 level. In the view of economists at Scotiabank, the cable could fall as low as 1.30.

The 1.3350/55 range will stand as resistance

“The GBP’s slide from its failed break of 1.35 last week is on track to a test of 1.33.”

“The five-day losing streak in the pound has left it trading just shy of oversold in the RSI with the eventual move likely to prevent a test of 1.32 in the coming days if losses past 1.33 extend.”

“Technical signals are still pointing to further losses ahead toward 1.30.”

“The 1.3350/55 range will stand as resistance ahead of the 1.3380 zone and then the figure.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD bounces back to 1.3200 after strong UK Retail Sales data

GBP/USD finds fresh buyers and rebounds to the 1.3200 mark in early Europe on Friday. Stronger-than-expected UK Retail Sales data provide a much-needed lift to the British Pound and the pair amid a chaotic UK political environment.

EUR/USD holds losses below 1.1450 on firmer US Dollar

EUR/USD stays in the red below 1.1450 in the European session on Friday. The pair loses ground as the US Dollar (USD) continues to benefit from the Federal Reserve’s (Fed) hawkish policy outlook and canceled negotiations between the US and Iran in Switzerland.

Gold slumps to one-week low; $4,100 back in sight amid bullish USD

Gold continues losing ground through the Asian session, and touches a fresh weekly trough around the $4,122-$4,121 region in the last hour. The US Dollar retains its bullish bias near the highest level since May 2025 in the face of the US Fed's hawkish tilt, which is seen undermining the non-yielding bullion for the third straight day.

Solana extends correction despite ETF inflows, RWA adoption

Solana (SOL) price edges below $70 extending its losses for the fourth straight day this week. The institutional demand for Solana is building, with steady inflows so far this week and Morgan Stanley’s amended S-1 filing for a Solana-focused Exchange-Traded Fund.

Back above 100: Kevin Warsh’s first Fed meeting sparks US Dollar rally

The US Dollar Index did a phoenix comeback, rising from its ashes and reconquering 100. The reasons behind the US Dollar rally are pretty clear: the Memorandum of Understanding between the United States and Iran, and a hawkish Federal Reserve. Both events were long-awaited and much expected. However, the market reacted with surprise when there were no surprises at all.

The next big AI trade may not be about chips or software

Artificial intelligence has already created some of the biggest winners in modern market history. Chipmakers have surged, data centre construction is booming, and electricity demand forecasts are changing globally.