Pound Sterling Price News and Forecast: GBP/USD attracts buyers for three days straight amid weaker US Dollar

FXStreet Team FXStreet

GBP/USD Price Forecast: Stands firm near mid-1.3400s, seems poised to climb further

The GBP/USD pair gains positive traction for the third consecutive day on Friday and moves further away from its lowest level since early August, around the 1.3250-1.3245 region touched earlier this week. Spot prices currently trade around mid-1.3400s, or a one-and-a-half-week high touched on Thursday amid a broadly weaker US Dollar (USD), though the intraday uptick lacks bullish conviction.

Tuesday's disappointing UK employment data fueled speculations that the Bank of England (BoE) could continue cutting rates gradually. This, along with concerns over the UK’s fiscal outlook ahead of the crucial Autumn budget in November, is holding back traders from placing aggressive bullish bets around the British Pound (GBP) and turning out to be a key factor acting as a headwind for the GBP/USD pair. Read more...

GBP/USD extends bullish rebound, continuation faces fresh technical challenge

GBP/USD stepped into a second straight winning session on Thursday, around three-tenths of one percent and bringing Cable’s two-day recovery to a little over one percent, bottom-to-top. UK data came in more or less above expectations, bolstering the Pound Sterling (GBP) as it extends a technical rebound from the 200-day Exponential Moving Average (EMA) near 1.3270.

Cable is now facing a fresh technical ceiling near the 50-day EMA at 1.3450, but momentum remains in favor of GBP bulls as US data remains a limited affair. There is little of note on both sides of Friday’s data docket, with the UK data pool now empty and the US side dark amid the ongoing government shutdown, which has caused the release of official datapoints to dwindle down to functionally nothing. Read more...

GBP/USD extends recovery amid US Dollar softness and modest UK GDP growth

The British Pound (GBP) strengthens against the US Dollar (USD) on Thursday, extending gains for the second day in a row. At the time of writing, GBP/USD is trading around 1.3431, rebounding after briefly falling to a two-and-a-half-month low on Tuesday.

The recovery in Sterling comes as the Greenback softens amid escalating US-China trade tensions and prolonged uncertainty surrounding the United States (US) government shutdown, now in its third week. Traders are also fully pricing in back-to-back 25-basis-point interest rate cuts by the Federal Reserve (Fed) at the upcoming October and December meetings. Read more...

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GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD stays offered, breaks below 1.1400…again

EUR/USD adds to Tuesday’s slight losses and drops below the 1.1400 yardstick in the latter part of Wednesday’s NA session. The pair’s decline comes in response to the persistent recovery in the US Dollar, which seems to have met extra support following the cautious tone from Fed’s Warsh in his comments at the ECB Forum.

Gold recovers but sellers hold the grip

Gold keeps the bullish performance in place on Wednesday, although is now giving away part of its earlier advance past the $4,100 mark per troy ounce. The precious metal’s marked rebound comes despite the US Dollar’s bid bias, higher US Treasury yields across the curve and positive headlines from the Middle East.

Dogecoin vs Shiba Inu: DOGE and SHIB start July with similar setups

The cryptocurrency market shows subtle signs of rebounding on Wednesday after facing intense headwinds over the past few weeks, largely attributed to geopolitical tensions, macroeconomic uncertainty and risk-averse sentiment. Dogecoin (DOGE) and Shiba Inu (SHIB) are holding above pivotal support levels at $0.0700 and $0.0000040, respectively, suggesting investors are ready to reengage.

Warsh stays on message as inflation remains the Fed's top priority

At the ECB Forum in Sintra, Fed Chair Kevin Warsh largely followed the script, offering little to change the market’s current view on monetary policy.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.