Pound Sterling Price News and Forecast: GBP gains ground to near 1.3430 early European session

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GBP/USD Price Forecast: Edges higher above 1.3400, bullish outlook remains intact

The GBP/USD pair trades in positive territory around 1.3430 during the early European trading hours on Friday. The UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes underpin the British Pound (GBP) against the US Dollar (USD).

Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Read more...

British Pound gains traction above 1.3400 as markets bet on BoE rate hikes

The GBP/USD pair gathers strength to around 1.3430 during the Asian trading hours on Friday. The British Pound (GBP) edges higher against the US Dollar (USD) on the UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes.

British Pound Sterling stages a jailbreak while Westminster arranges a coronation

Cable adds roughly a tenth of a percent on Thursday, changing hands a whisker above 1.3400 and poking through the 200-day Exponential Moving Average (EMA) for the first time since mid-June. The setting makes the move notable: the United States traded overnight strikes with Iran for a second consecutive day, Crude Oil carries a war premium, and Federal Reserve (Fed) speakers spent the session sounding hawkish. None of it bought the Dollar anything against the Pound.

Thursday's American docket gave Dollar bulls usable material, starting with Initial Jobless Claims printing 215K at 12:30 GMT against a 218K consensus and a 217K prior. A voting Federal Open Market Committee (FOMC) member delivered remarks rated firmly hawkish at 13:00 GMT, another policymaker speaks at 17:30 GMT, and Existing Home Sales falling 2.4% MoM in June stands as the lone soft spot on the tape. Read more...

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GBP/USD holds gains below 1.3450 as markets bet on more BoE rate hikes

GBP/USD holds moderate gains but stays below 1.3450 in the European morning hours on Friday. The British Pound gains amid optimism on the UK government leadership transition and Bank of England rate hike bets. Meanwhile, the US Dollar loses ground on Middle East de-escalation and receding Fed rate hike expectations.

EUR/USD advances to 1.1450 on softer USD, ECB rate hike bets

EUR/USD advances to near 1.1450 in the early European hours on Friday, bolstered by a softer US Dollar. The European Central Bank is grappling with elevated core inflation, forcing traders to price in more aggressive tightening despite mixed guidance from ECB officials, lending support to the pair.

Gold flat lines above $4,100 amid weaker USD, Fed hike bets and Iran risks

Gold reverses a modest Asian session dip to the $4,109-$4,108 region, though it lacks bullish conviction. The US Dollar selling remains unabated for the third consecutive day in the wake of Wednesday's less hawkish FOMC Minutes and offers some support to the commodity. However, prospects of a Fed rate hike in 2026 remain active.

Zcash: Retail demand lifts ZEC price on new Ironwood shielded pool announcement

Zcash price shows mild recovery during early Asian hours, rising toward the $500 mark. Retail demand supports ZEC's recovery, with an 18% rise in its futures Open Interest, likely linked to the announcement of the Ironwood shielded pool. Technically, ZEC should clear a key Fibonacci resistance level near $520 to test its all-time high of $690.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June Federal Open Market Committee meeting landed mid-round-trip, describing a world that had already stopped existing.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.