Pound Sterling Price News and Forecast: GBP/USD bears engage at a key 61.8% ratio

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GBP/USD Price Analysis: Bears engage at a key 61.8% ratio

GBP/USD has come under pressure to test the 1.1300 level following a resurgence in the US dollar on Wednesday. The US dollar index, DXY, was last seen up near to 1% at 111.21 but it had been as high as 111.735 overnight. US yields rallying has helped to prop up the US dollar as the money markets price out overall optimistic speculation over a Federal Reserve pivot. The yield on the US 10-year note was up a high of 3.78%. Read more...

GBP/USD Forecast: Buyers move to sidelines amid risk aversion

GBP/USD has lost its traction and declined to the 1.1400 area after having advanced toward 1.1500. The souring market mood helps the dollar regather its strength and weighs on the pair ahead of key macroeconomic data releases from the US. The selling pressure surrounding the dollar and the UK government's decision to step back on massive tax cuts fueled GBP/USD's rally earlier in the week. The US Dollar Index (DXY), which tracks the greenback's performance against a basket of six major currencies, lost more than 1% on Tuesday as market participants cheered falling bond yields. Read more...

GBP/USD outlook: Bulls face headwinds at 1.15 zone, looking for fresh signals

Bulls are taking a breather under new highest since Sep 15 as recent rally faced headwinds on approach to 1.1500 barrier. Fundamentals work in favor of pound, as U-turn in government’s plan to cut tax to the highest rate of income boosted the sentiment, while traders expect fresh signals from Fed, after the latest data showed signs of wobbling US economic growth that would prompt the central bank to reduce the pace of tightening, in the fight against high inflation. Read more...

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EUR/USD looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold retains positive bias amid sustained safe-haven flows and modest USD pullback

Gold maintains its offered tone through the first half of the European session, though it lacks follow-through and remains below the $5,200 mark. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.