Pound Sterling Price News and Forecast: GBP/USD – Brexit, virus strain sterling

FXStreet Team FXStreet

GBP/USD Outlook: Bears trying to seize control amid Brexit/Covid woes, US CPI in focus

The GBP/USD pair struggled to capitalize on its intraday positive move and witnessed a dramatic turnaround on Wednesday in the wake of fresh Brexit jitters. The pair gained some traction after the Bank of England Chief Economist, Andy Haldane warned about rising inflationary pressures and added that the central bank might need to turn off the tap of its huge monetary stimulus. Bulls, however, struggle to capitalize on the move and failed ahead of the 1.4200 mark amid concerns about souring UK-EU relations. Read more...

GBP/USD Forecast: Brexit, virus strain sterling, critical support breached, US data eyed

The highest number of COVID-19 cases since February – the Delta virus variant is spreading fast, making the UK's last reopening stage less and less likely. While Britain is a world leader in vaccination, this strain first identified in India is finding its way to those not fully immunized. The highly anticipated "Freedom Day" will likely be postponed from June 21 to early July.

Economic damage from the delayed return to normal is joined by threats of quota tariffs from the EU. Brussels and London remain at loggerheads over the implementation of the Northern Irish protocol and tensions are mounting. Maroš Šefčovič, the EU´s Brexit point-person, said that his patience is running thin. Read more...

Technical analysis: Will the GBP/USD retreat continue?

The GBPUSD technical analysis of the price chart on a 1-hour timeframe shows GBPUSD: H1 is rebounding to test the 200-period moving average MA(200) which is declining. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.4154. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1.4072. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. Read more...

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FXStreet

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD weakens to near 1.3300 as geopolitical risks bolster US Dollar

The GBP/USD pair attracts some sellers to around 1.3310 during the early European session on Wednesday. Escalating conflict in the Middle East triggers a "flight to safety," 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 sticks to intraday gains above $5,150; upside seems limited amid bullish USD

Gold preserves its modest intraday gains through the Asian session on Wednesday and currently trades just above the $5,150 level, up around 1.30% for the day. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

Bitcoin, Ethereum and Ripple struggle for direction as consolidation persists

Bitcoin, Ethereum and Ripple prices trade with a cautious tone at the time of writing on Wednesday as upside momentum continues to fade across the broader crypto market. BTC remains within a parallel channel, ETH struggles below key resistance, while XRP remains fragile within a descending channel. These top three cryptocurrencies by market capitalization continue to struggle to establish a directional bias amid the consolidation phase.

When rates start driving the bus through a war zone

The volatility regime itself is also changing character. EM carry trades thrive in calm markets. They suffocate in environments that resemble Buckaroo Banzai trading conditions, where headlines move faster than models. That is exactly the world investors are now trying to recalibrate to. Euro rate volatility had been remarkably subdued even while equities were wobbling. That stability is now being questioned, and once volatility leaks into rates it rarely stays contained. Indeed, carry trades love calm seas. War turns the ocean into white water.

Ripple falters amid sell-off jitters and negative funding rates

Ripple (XRP) has come under pressure, drifting lower to $1.35 at the time of writing on Tuesday. The over 2% correction looks poised to erase the previous day’s gains, which lifted the remittance token to $1.42.