Pound Sterling Price News and Forecast: GBP/USD bearish potential limited, but bull cautious

FXStreet Team FXStreet

GBP/USD Price Analysis: Inverse Head-And-Shoulders underway on 4-hour chart

GBP/USD takes the bids near 1.2490, up 0.05% on a day, during Monday’s Asian session. In doing so, the Cable extends Friday’s bounce off 200-bar SMA to sharpen the inverse Head-And-Shoulder formation on the four-hour chart. However, the neckline of the bullish pattern joins 50% Fibonacci retracement level of June 10-29 fall to add strength to the upside barrier.

Increasing the odds of an upside break is the strong RSI condition and the pair’s sustained trading beyond 200-bar SMA. As a result, the bulls are waiting for a clear break above 1.2535 to escalate the recent recovery moves. In doing so, the June 16 top near 1.2690 could become immediate resistance to watch ahead of the previous month’s high near 1.2815.

GBP/USD Forecast: Mounting Brexit tensions could hit the Pound

The GBP/USD pair has remained unchanged just below the 1.2500 threshold on Friday but closed the week with substantial gains. Hopes mixed with fears by the end of the week, as Britons welcomed the reopening of social activities on Saturday. The news overshadowed concerns related to Brexit talks, which broke up early on Thursday, amid serious disagreements between the two parts. Nevertheless, both parts committed to another round of talks this week in London, and market players expect the EU and the UK to reach an agreement on trade by October.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD: Pound Sterling ticks up against US Dollar in countdown to US NFP

The Pound Sterling trades marginally higher to near 1.3365 against the US Dollar during the Asian trading session on Friday. The GBP/USD pair edges up as the US Dollar ticks down ahead of the United States Nonfarm Payrolls data for February, which will be published at 13:30 GMT.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.