Pound Sterling Price News and Forecast: GBP struggles to extend recovery as mood sours

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling struggles to extend recovery as mood sours

GBP/USD stays under modest bearish pressure and declines toward 1.3000 to start the new week, after posting daily gains on Thursday and Friday. A daily close below 1.2960 could open the door for another leg lower.

Pound Sterling held its ground in the second half of the week as it managed to capture capital outflows out of the Euro. Additionally, the positive shift seen in risk mood helped GBP/USD edge higher heading into the weekend. Read more...

GBP/USD Price Forecast: Bears have the upper hand while below 1.3135 confluence

The GBP/USD pair struggles to capitalize on a two-day-old recovery move from the 1.2975 area, or a nearly two-month trough touched last Thursday and kicks off the new week on a softer note. Spot prices currently trade just below mid-1.3000s and seem vulnerable to prolonging the recent pullback from the 1.3435 region, or the highest level since March 2022.

The US Dollar (USD) attracts some dip-buyers at the start of a new week and reverses a part of Friday's losses amid expectations that the Federal Reserve (Fed) will proceed with modest rate cuts over the next year. The British Pound (GBP), on the other hand, is undermined by rising bets for interest rate cuts by the Bank of England (BoE) in November and December. This, in turn, adds credence to the near-term negative outlook for the GBP/USD pair. Read more...

GBP/USD Weekly Forecast: Pound Sterling struggles as low inflation propels BoE rate cut bets

The Pound Sterling (GBP) fell for the third consecutive week against the US Dollar (USD), as the GBP/USD pair tested levels below the 1.3000 round level for the first time since mid-August before staging a late recovery.

Markets turned more dovish on the Bank of England’s (BoE) monetary policy outlook while sealing in a smaller interest-rate cut by the US Federal Reserve (Fed), thus strengthening the US Dollar’s advance at the expense of the Pound Sterling. Read more...

Author

FXStreet Team

FXStreet

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 trims losses, approaches 1.3500

GBP/USD adds to the multi-day negative streak, although it has managed to bounce off earlier four-week lows near 1.3470 on Wednesday. Meanwhile, Cable’s deep correction comes despite the tepid performance in the Greenback and the persistent geopolitical concerns.

EUR/USD treads water just below 1.1600

EUR/USD now alternates gains with losses near the 1.1600 region following the closing bell in European markets on Wednesday. The pair has managed to rebound from earlier two-week lows around 1.1560 in tandem with the loss of momentum in the US Dollar.

Gold: Near-term bounce, sellers still in charge

Gold continues to regain ground lost and sets its target on the $4,400 mark per troy ounce on Wednesday. The yellow metal’s rebound comes amid modest losses in the US Dollar, steady geopolitical uncertainty and mixed US Treasury yields.

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

Crypto Today: Bitcoin, Ethereum, XRP edge lower as renewed US-Iran tensions weigh

The cryptocurrency market is pulling back broadly on Wednesday as investors adopt a cautious stance, with Bitcoin consolidating near its short-term support at $77,000. Ethereum remains under pressure, slipping toward $2,400. Ripple is also trending lower.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.