Pound Sterling Price News and Forecast: GBP/USD at a brink of collapsing, eyes on the 1.1000 threshold

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Pound bears set to return in a critical week ahead

GBP/USD lost its recovery momentum after reaching the highest level in three weeks near 1.1500, in the face of the US dollar upswing and UK political tensions. Cable settled the week modestly flat following a volatile previous week. Market participants now look forward to the Fed minutes and the first-tier UK and US economic releases amid a holiday-shortened week. Read more...

GBPUSD at a brink of collapsing, eyes on the 1.1000 threshold

Following the US monthly employment report, the American dollar rallied, pushing GBP/USD down to an intraday low of 1.1089. According to the Bureau of Labor Statistics, the country added 265K new jobs in September, beating expectations, while the Unemployment Rate unexpectedly slid to 3.5%. The strength in the sector left the path clear for the US Federal Reserve to keep hiking rates at the whopping pace of 75 bps per meeting. Read more...

Could GBP/USD fall towards the 1.10 level?

Looking at GBPUSD’s chart, we can see that after its great recovery from the rate of around 1.0840 to around 1.14, it starts falling to the current rate of around 1.113. Today we could expect that fall to continue with the possibility to reach the rate of 1.10. Read more...

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EUR/USD drops to daily lows near 1.1630

EUR/USD now loses some traction and slips back to the area of daily lows around 1.1630 on the back of a mild bounce in the US Dollar. Fresh US data, including the September PCE inflation numbers and the latest read on December consumer sentiment, didn’t really move the needle, so the pair is still on course to finish the week with a respectable gain.

GBP/USD trims gains, recedes toward 1.3320

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Gold makes a U-turn, back to $4,200

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