Pound Sterling Price News and Forecast: GBP remains fragile [Video]

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling remains fragile

GBP/USD struggles to stage a rebound and trades in a narrow channel at around 1.3350 after closing the previous four trading days in negative territory. As investors await the key September Consumer Price Index (CPI) data from the United States, which will be published on Friday, the technical outlook suggests that the bearish bias remains intact.

On Wednesday, Pound Sterling came under bearish pressure after the data from the UK showed that the annual inflation, as measured by the change in the CPI, held steady at 3.8% in September. This print came in below the market expectation of 4%. Read more...

GBP/USD Elliott Wave: Another leg down

Back on September 19, two-days after a medium term top, we forecasted a decline in GBP/USD reaching to 1.31 and possibly 1.28. Cable has progressed lower and the Elliott wave pattern appears to be incomplete to the downside.

GBP/USD carved a wave ((x)) high on September 17 at 1.3726. The decline since September 17 fits best as wave ((y)). We know from our Elliott wave studies that this y-wave is likely to take shape as an (a)-(b)-(c) zigzag pattern. Read more...

GBP/USD live forex trade [Video]

In this forex trading video we cover the entry,exit reasons and management for our forex trade today on the GBP/USD and how you can trade the forex structure on daily, four, hourly, and 15 minute charts and how you can target the next support/resistance. In the last few videos we covered the steps to find and trade structure. In this video you will learn how we traded the GBP/USD structure today using the trading charts and price action.

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FXStreet Team

FXStreet

EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

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