Pound Sterling Price News and Forecast: GBP buyers regain control ahead of US data [Video]

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GBP/USD Forecast: Pound Sterling buyers regain control ahead of US data

GBP/USD holds its ground and trades in positive territory above 1.3150 after closing higher on Wednesday. Investors await August ADP Employment Change data from the US.

The renewed US Dollar (USD) weakness helped GBP/USD gain traction during the American trading hours on Wednesday. The US Bureau of Labor Statistics reported that JOLTS Job Openings declined to 7.67 million in July from 7.9 million in June. As this reading missed the market expectation of 8.1 million by a wide margin, the immediate reaction caused the USD to weaken against its rivals. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The GBPUSD daily chart analysis shows that the British Pound to US Dollar currency pair is currently trending in an impulsive manner. The market follows an impulsive wave structure, indicating a strong directional movement consistent with the prevailing trend. The specific structure under analysis is gray wave 1, part of a larger wave sequence.

At this stage, the market is positioned in orange wave 3, which represents a crucial phase in the ongoing wave cycle. After the completion of orange wave 2 of 3, gray wave 1 of 3 has begun. This indicates that the market is progressing through the early stage of this wave, which typically results in significant price movements. Read more...

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD back to 1.3250, down modestly for the day

GBP/USD now comes under fresh downside pressure and recedes toward the mid-1.3200s on Tuesday, partially reversing the optimism seen at the beginning of the week. Meanwhile, Cable’s bearish tone follows the resumption of the upside traction in the Greenback, always amid the sharp rally in USD/JPY.

EUR/USD looks inconclusive in the low 1.1400s

EUR/USD alternates gains with losses in the 1.1420 region in the latter part of the NA session on turnaround Tuesday. The pair’s vacillating price action comes amid the lack of clear direction in the US Dollar. Meanwhile, market participants are expected to gear up for the upcoming key releases on the US docket and developments from the ECB Forum in Sintra.

Gold clings to daily gains beyond $4,000

Following multi-month lows near $3,950, Gold now manages to regain some composure and reclaim the area beyond the key $4,000 yardstick per troy ounce on Wednesday. Still, any meaningful recovery appears limited as a broadly firmer US Dollar and rising US Treasury yields weigh on the yellow metal.

Coinbase, BlackRock, Visa and Stripe support Open Standard’s OUSD stablecoin

Open Standard on Tuesday unveiled Open USD (OUSD), a dollar-pegged stablecoin designed for global payments, backed by more than 140 companies. The founding coalition spans payment networks, banks, fintech firms, technology platforms and crypto infrastructure providers, including Shopify, Google, Ripple, Solana, Coinbase, Visa, Mastercard, Stripe, BlackRock and BNY.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen hits a 40-year low of 162.00 against the US Dollar, raising concerns about intervention or additional rate hikes by the Bank of Japan. BoJ may sell US Treasuries to buy back Yen, potentially pushing US bond yields higher and making Bitcoin less attractive to investors.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.