Pound Sterling Price News and Forecast: GBP/USD bounces from weekly lows

FXStreet Team FXStreet

GBP/USD bounces from weekly lows and marches firmly above 1.2530s pre-FOMC minutes

The British pound recovers some ground on Wednesday during the North American session, bouncing near weekly lows around 1.2480s and back above the 1.2500 figure. At 1.2545, the GBP/USD grinds higher due to an improved market mood. Read more...

GBP/USD Forecast: Near-term technicals turn bearish

Following the sharp decline witnessed on Tuesday, GBP/USD has failed to stage a convincing rebound. The near-term technical outlook shows that sellers look to dominate the pair's action and a four-hour close below 1.2500 could open the door for additional losses. Read more...

GBP/USD Outlook: Doubts over further BoE rate hikes favour bears, focus on FOMC minutes

The GBP/USD pair witnessed a dramatic intraday turnaround on Tuesday and plunged over 125 pips from the 1.2600 neighbourhood, snapping a three-day winning streak. The steep decline followed the disappointing release of UK PMI prints, which showed a sharp deceleration in growth during May and raised concerns about a possible recession. In fact, the flash S&P/CIPS Services PMI missed market expectations by a big margin and tumbled to a 15-month low level of 51.8. Adding to this, the flash Manufacturing PMI fell to 54.6 from 55.8 in the previous month. The data reaffirmed the Bank of England's gloomy economic outlook and forced investors to scale back bets for any further rate hikes in the near future, which, in turn, weighed heavily on the British pound. Read more...

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EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.