Pound Sterling Price News and Forecast: GBP/USD bullish bias above rising daily cloud [Video]

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GBP/USD outlook: Bullish bias above rising daily cloud

Cable remains at the front foot and extends recovery on Friday morning, after fresh bulls registered break and close above the top of rising daily cloud.

Fading US recession fears and solid Chinese economic data revived risk sentiment while sterling gets support from diverging US/UK monetary policies (bets for the size of Fed rate cuts this year went well above expectations for BoE’s action) keeping pound underpinned. Read more...

GBP/USD Forecast: Pound Sterling finally benefits from risk flows

After falling to its weakest level since early July below 1.2700 on Thursday, GBP/USD gained traction and closed the day in positive territory. The pair preserves its recovery momentum and continues to stretch higher toward 1.2800 in the European session on Friday.

The US Department of Labor reported on Thursday that the number of first-time applications for unemployment benefits dropped to 233,000 in the week ending August 3 from 250,000 in the previous week. The immediate market reaction to this data helped the US Dollar (USD) gather strength and dragged GBP/USD lower. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The GBPUSD Elliott Wave Analysis on the daily chart concentrates on a trending market with an impulsive mode, indicating a strong upward momentum. The wave structure under review is Orange Wave 3, which suggests the market is in the midst of a significant upward trend as part of a larger impulsive wave sequence.

Currently, the market is positioned in Navy Blue Wave 3. This wave positioning indicates the market's continued upward progression within the ongoing impulsive wave, contributing to the overall trend. The analysis indicates that the direction for the next higher degrees aligns with the continuation of Orange Wave 3, which has already begun and is propelling the market further upward. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD retreats below 1.3350; Fed Minutes in focus

GBP/USD struggles to find its footing and trades in negative territory below 1.3350, pressured by the renewed USD strength. US President Donald Trump said on the MoU signed with Iran to end the conflict was "over", causing safe-haven flows to dominate the action in financial markets. Later in the American session, the Fed will publish the minutes of the June policy meeting.

EUR/USD tests 1.1400 as USD gathers strength on Trump comments

EUR/USD comes under bearish pressure on Wednesday and declines toward 1.1400. US President Trump said the MoU signed with Iran to end the conflict was "over" and added that the didn't want to engage with Tehran anymore, triggering a flight-to-safety and boosting the USD.

Gold drops below $4,100 as Middle East tensions escalate

Gold turns south on Wednesday and trades deep in negative territory near $4,050 on Wednesday. Investors adopt a cautious stance and help the USD gather strength after US President Trump said at the NATO summit that the MoU signed with Iran to end the conflict was "over" and added he didn't want to engage with Tehran.

Pi Network crashes to a record low amid broader market stress

Pi Network (PI) price edges toward $0.1000 extending losses for the fifth straight day. Retail sentiment remains bearish as Open Interest and the funding rate decline. The technical outlook for PI is bearish as selling pressure mounts, despite oversold conditions.

WTI surges above $74 as Trump confirms MoU with Iran is over

West Texas Intermediate (WTI) soars 3.2% to near $74.30 during the European trading session, the highest level seen in two weeks. The oil price surges as the confirmation, from the US President Donald Trump that the MoU with Iran is over, has revived risks of global energy supply disruption.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.