Pound Sterling Price News and Forecast: GBP/USD blue box reaction

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Elliott Wave in action: GBP/USD blue box reaction

In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of GBPUSD. In which, the rally from 13 January 2025 low is unfolded as impulse sequence & showed a higher high sequence therefore, called for an extension higher to take place. We knew that the structure in GBPUSD should remain supported & extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas.

Here’s the Daily Elliott wave Chart from the 11.01.2025 Weekend update. In which, the rally to $1.3789 high completed wave (3) & made a pullback in wave (4). The internals of that pullback unfolded as Elliott wave double three correction where wave W ended at $1.3142 low. A rally to $1.3726 high-ended wave X bounce. Then started the next leg lower in wave Y towards $1.3082- $1.2683 blue box area. Read more...

GBP/USD outlook: Cable – bulls hold grip ahead of key US data

Cable jumped above 1.3400 mark on Tuesday morning after better than expected December Manufacturing and Services PMIs (preliminary) offset weak numbers from labor report.

Sterling maintains firm tone and holding just under new high in almost two months, ahead of key economic event of the day – releases of combined (Oct/Nov) US labor report, Oct retail sales and Dec preliminary PMIs. Read more...

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EUR/USD looks vacillating above 1.1800

EUR/USD alternates gains with losses in the low-1.1800s on Wednesday in a context of modest gains in the Greenback. Meanwhile investors continue to assess the latest advanced inflation data in the euro area and the lower-than-expected weekly ADP figures on the US calendar. Later in the day, all the attention should be on the release of the US ISM Services.

GBP/USD keeps the bid bias above 1.3700

GBP/USD builds on Tuesday’s gains, advancing for the second day in a row and reclaiming the 1.3700 barrier and above on Wednesday. Furthermore, Cable’s uptick comes despite decent gains in the Greenback ahead of the BoE’s Super Thursday.

Gold extends the rebound above $5,000

Gold picks up further pace and retests the area above the key $5,000 mark per troy ounce on Wednesday. The precious metal’s extra advance comes despite the firmer US Dollar and rising US Treasury yields across the curve, while fresh geopolitical effervescence appears to support the metal’s improvement.

Crypto Today: Bitcoin, Ethereum, XRP tick up despite macro uncertainty, retail exodus

Bitcoin rises above $76,000 following an extended decline to $72,946 the previous day as Fed-related headlines keep investors on edge. Ethereum advances toward the $2,300 hurdle amid low retail interest, with futures Open Interest falling to $26.3 billion.

Should investors abandon AI as software stocks slide?

AI is not being abandoned by markets. It is being priced more carefully. Over the past few weeks, the underperformance of software and SaaS stocks has sparked a familiar question: is the AI trade breaking down? The answer is no.

Ripple stabilizes amid mixed signals as ETF inflows resume despite low retail activity

Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.