Pound Sterling Price News and Forecast: GBP/USD attracts buyers for the second straight day

FXStreet Team FXStreet

GBP/USD Price Forecast: Trades with positive bias above mid-1.3300s, around 38.2% Fibo. level

The GBP/USD pair gains some positive traction for the second consecutive day on Monday as dovish Federal Reserve (Fed) bets, and the risk-on impulse keep the safe-haven US Dollar (USD) depressed. Spot prices trade just above mid-1.3300s during the Asian session and look to build on Friday's goodish rebound from the 1.3260 area, or the lowest level since August 5.

The global risk sentiment gets a strong boost after US President Donald Trump backtracked on his threatened 100% tariffs on Chinese imports from November 1. This comes on top of expectations that the US central bank will lower borrowing costs two more times this year and concerns about a prolonged US government shutdown, which undermines the safe-haven buck. Furthermore, bets that the Bank of England (BoE) will keep interest rates on hold for the rest of this year benefit the British Pound and act as a tailwind for the GBP/USD pair. Read more...

GBP/USD Weekly Forecast: Pound Sterling sellers refuse to give up

The Pound Sterling (GBP) broke the previous consolidation against the US Dollar (USD) to the downside, as GBP/USD tested levels under 1.3300. It was all about the USD comeback against its major currency rivals that led to the renewed downside in the GBP/USD pair.

The pair hit the lowest level in ten weeks at 1.3280, after having faced rejection once again at 1.3500 in the early part of the week. The Greenback stood tall despite the extension of the US government shutdown and persistent bets for two Federal Reserve (Fed) interest rate cuts this year. Read more...

GBP/USD weakens below 1.3350, US-China trade tensions in focus

The GBP/USD pair trades on a softer note near 1.3345 during the early Asian session on Monday. The US Dollar (USD) strengthens against the Pound Sterling (GBP) despite US President Donald Trump's tariff threat on China. The Bank of England (BoE) external member Catherine Mann is set to speak later on Monday. The US market is closed on Monday for the US Columbus Day.

Trump on Friday had threatened 100% tariffs on China from November 1. On Sunday, Beijing defended its curbs on exports of rare earth elements and equipment as a response to US aggression but stopped short of imposing new levies on US products. Economic uncertainty and escalating trade tensions between the world’s two largest economies could undermine the Greenback and create a tailwind for the major pair. 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.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.