Pound Sterling Price News and Forecast: GBP/USD bulls extends gains and approach July highs

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GBP/USD Price Analysis: Bulls extends gains and approach July highs

In Tuesday's session, the GBP/USD pair continued its upward trajectory, rising by 0.32% to 1.3030 near mid-July highs, with bullish momentum gaining significant ground as indicated by the recent trading sessions. Read More...

Pound Sterling rises above 1.3000 against US Dollar with Jackshon Hole in focus

The Pound Sterling (GBP) posts a fresh monthly high near the psychological resistance of 1.3000 against the US Dollar (USD) in Tuesday’s North American session. The GBP/USD pair demonstrates sheer strength as the outlook of the US Dollar is bleak amid firm speculation that the Federal Reserve (Fed) will start reducing interest rates in September. Read More...

GBP/USD remains capped under 1.3000, focus on Fedspeak

The GBP/USD pair weakens near 1.2980, snapping the three-day winning streak during the early European session on Tuesday. The modest recovery of the Greenback drags the major pair lower. In the absence of top-tier data releases from the UK later this week, the USD price dynamic will be the main driver for the GBP/USD. All eyes will be on the Federal Reserve (Fed) Chair Jerome Powell's speech on Friday. Read More...

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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 holds range below 1.3650 amid Iran risks

GBP/USD extends its sideways consolidative price move for the second straight day and trades below 1.3650 in Tuesday's European session. The US Dollar is looking to build on its modest recovery amid US sanctions on Iran, acting as a headwind for the pair. The lack of follow-through selling warrants some caution for bearish traders.

EUR/USD struggles near 1.1650 as USD recovers amid Mideast woes

EUR/USD is struggling to gain traction, while trading near 1.1650 in European trading on Tuesday. The pair fails to find support amid a modest US Dollar recovery as rising oil prices, elevated bond yields, and escalating Middle East tensions fuel risk-off trades. Upbeat Germany IFO Survey fails to inspire Euro bulls.

Gold remains depressed below $4,650 on firmer USD, Fed risks, and Middle East tensions

Gold remains on the back foot below $4,650 through the first half of the European session. However, the lack of follow-through selling warrants caution before positioning for an extension of the intraday retracement slide from the $4,700 neighborhood, or the highest level since May 14, touched earlier this Tuesday. The US Dollar is seen building on its recovery from a three-month low as inflation risks stemming from volatile energy prices keep bets for at least one interest rate hike by the US Federal Reserve on the table.

Bitcoin tops $80,000 as US Treasury fights high yields – AERO, VIRTUAL rally

Bitcoin extends gains above $80,000 as broader market risk-on sentiment persists. The scarce asset could extend its rally as the US Treasury combats high yields in the long-dated bond market, with further interventions on the horizon. Aerodrome Finance (AERO) and Virtuals Protocol (VIRTUAL) emerged as top performers over the last 24 hours.

The forex market is switching to a ‘debasement trade’

The US dollar has stabilised near three-month lows thanks to a rapid recovery in Treasury bond yields. Yields on 30-year bonds are returning to the levels seen following the Treasury’s announcement that it was increasing the minimum purchase volume to $4 billion. The greenback got support from falling stock indices, the continued rally in Brent crude, and positive signals from the US economy.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.