Pound Sterling Price News and Forecast: GBP recovers slight losses against US Dollar

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British Pound recovers slight losses against US Dollar, JOLTS data eyed

The British Pound (GBP) claws back some of its early losses, but is still 0.14% down at around 1.3235 against the US Dollar (USD) during the European trading session on Tuesday. The GBP/USD pair recovers slight gains as the US Dollar Index (DXY) retreats after revisiting its two-month high of 101.50 to near 101.35.

The outlook of the US Dollar remains as traders are increasingly confident that the Federal Reserve (Fed) will deliver more interest rate hikes this year. Read more...

GBP/USD Elliott Wave: Bearish impulse opens room toward 1.3150–1.3000 [Video]

GBP/USD is falling sharply, and this looks like it could be part of a bearish impulse. A break below the lower trend line of a bearish base channel normally points to a potential acceleration into wave three, which can be a strong and extended move. In that case, more weakness toward the 1.3150–1.3000 area is possible as the next important downside target. Read more...

GBP/USD outlook: Bears take a breather after heavy losses but hold grip

Cable consolidates above new three-month low at 1.3204, posted last Thursday (just ahead of 1.3193, Fibo 38.2% of 1.2100/1.3870 uptrend) after suffering heavy losses in past two weeks (down 2%).

Partial profit-taking reflects oversold daily studies, but upticks were so far limited with long upper shadow of Friday / today daily candles, pointing to headwinds that recovery attempts face. Read more...

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AUD/USD hits nine-week lows below 0.7000 on RBA Bullock's remarks

AUD/USD reverses a brief uptick and turns lower to hit nine-week lows below 0.7000 in the European morning on Tuesday, as traders digest cautious remarks from Reserve Bank of Australia (RBA) Governor Michele Bullock during the press conference. Earlier on, the RBA raised the cash rate to 4.60%, as widely expected, leaving the door open to further rate hikes if needed.

USD/JPY consolidates near 157.50 as a bullish USD counters intervention risks

USD/JPY struggles to capitalize on the overnight bounce from a one-week low, consolidating around 157.50 in the Asian session on Tuesday. Trump's concerns about the Japanese Yen's weakness fueled speculation about another US-Japan joint intervention. This, along with the hawkish BoJ, underpins the JPY and caps the currency pair. Meanwhile, rising Fed rate-hike bets and oil-driven inflation fears continue to push US bond yields to multi-year highs, keeping the US Dollar pinned near a two-month high and supporting the pair.