Pound Sterling pulls back into the negative zone

FXStreet Team FXStreet

GBP/USD pulls back into the negative zone

GBPUSD tried to breach the psychological barrier at 1.2500 and re-establish itself within the 1.2488-1.2892 range. But its efforts proved unsuccessful, with the pair charting a new lower low of 1.2405 during Tuesday’s early trading hours – the lowest level since November 2023.

The bears might take a breather soon as the stochastic oscillator has reached its previous support area below 20, and the RSI is hovering around the 30 oversold level, suggesting the bulls could be on their way. Read more...

GBP/USD Forecast: UK jobs report does little to help Pound Sterling rebound

GBP/USD staged a rebound toward 1.2450 after setting a new multi-month low near 1.2400 earlier in the day on Tuesday. The technical outlook suggests that the pair's bearish bias remains intact.

The data published by the UK's Office for National Statistics (ONS) showed that the ILO Unemployment Rate rose to 4.2% in the three months to February from 4%. In the same period, annual wage inflation, as measured by the changed in the Average Earnings Including Bonus, held steady at 5.6%. Pound Sterling struggled to benefit from this report, as the unexpected increase in the unemployment rate offset any potential gains the currency could register on the persistent wage inflation reading. Read more...

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EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

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Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

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The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.