Pound Sterling Price News and Forecast: GBP/USD bulls eye recovery as focus shifts to PMIs & PCE

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Pound Sterling bulls eye recovery as focus shifts to PMIs & PCE

The Pound Sterling (GBP) witnessed an eventful and volatile week against the US Dollar (USD) as markets weighed monetary policy decisions by the US Federal Reserve (Fed) and the Bank of England (BoE).

Even though the week was dominated by high-impact labor and inflation data from the United Kingdom (UK), the main driver behind the GBP/USD price action remained the USD and the sentiment surrounding the Fed easing outlook. Read more...

GBP/USD Elliott Wave: Medium-term top

It appears that Cable completed wave ((b)) or ((x)) of wave 2 at Wednesday’s high of 1.3726. This means a multi-hundred pip decline is underway in wave ((c)) or ((y)) of 2. This decline likely carries down to 1.31 and possibly 1.28.

If the decline unfolds in 5-waves, then we’ll consider it to be wave ((c)), a five-wave Elliott wave pattern. If the decline unfolds in 3-waves, then we’ll consider it to be wave ((y)), a double zigzag pattern. Read more...

GBP/USD outlook: Cable bears face headwinds from daily cloud top

Cable remains in a step fall from last Wednesday’s 2 ½ month peak (1.3725) which has so far retraced over 61.8% of recent 1.3333/1.3725 rally and cracked next significant support at 1.3465 (daily cloud top).

Pound was initially hit by stronger dollar after Fed disappointed expectations for keeping very dovish stance, with signals from BoE Governor for possible further rate reductions, boosting bears on Thursday, while Friday’s unexpectedly high rise in UK borrowing sparked fresh acceleration lower. Read more...

Author

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.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.