Pound Sterling Price News and Forecast: GBP/USD bulls pause for consolidation

FXStreet Team FXStreet

GBP/USD outlook: Bulls pause for consolidation after uninterrupted seven-day rally

Cable edged lower on Thursday, as bulls take a breather after strong rally in past two days (part of larger seven-day rally) that hit two-month high (1.3589) on Tuesday and probed above the top of thickening daily Ichimoku cloud (1.3561).

Overbought daily studies contributed to a partial profit-taking, with dips expected to be limited (ideally to be contained at 1.3500 zone, consisting of broken 50% retracement of 1.3869/1.3159 descend / Tuesday’s low and deeper pullback to find ground above daily cloud base at 1.3450) to provide better levels to re-enter bullish market. Read more...

GBP/USD Price Forecast: Hold onto two-month high near 1.3590 amid risk-on mood

The GBP/USD pair trades flat around 1.3565 during the European trading session on Wednesday, but is close to its almost two-month high of 1.3590 posted the previous day. The Cable demonstrates strength as hopes of a permanent ceasefire between the United States (US) and Iran have improved the market sentiment.

During the press time, S&P 500 futures hold onto Tuesday’s gains near 6,970, reflecting an upbeat market mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades close to an over six-week low of 98.00. Read more...

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FXStreet Team

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GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

Gold remains below $4,100 despite receding Fed hike bets, weak USD

Gold opens with a bullish gap at the start of a new week amid receding Fed rate-hike expectations and a bearish US Dollar. Oil prices tumbled after Trump canceled an attack on Iran and said that a deal is near, easing inflation fears. This forces traders to dial back bets on extreme Fed tightening and drags the USD to a fresh low since June 17, which, in turn, is supporting the non-yielding bullion. However, the recent repeated failures to find acceptance above $4,100 warrant caution for XAU/USD bulls.

Gold's struggle with 21-day SMA extends ahead of US-Iran talks

Gold keeps its range around $4,050 early Monday, consolidating the previous decline. The US Dollar holds losses, fuelled by the USD/JPY slump and Mideast diplomacy hopes. Gold awaits a clear directional breakthrough, but sellers likely have the upper hand on the 1D chart.

Week ahead: US payrolls report and AI earnings to keep investors on edge

After the Fed decision, NFP report awaited for more rate hike clues. Employment also on the agenda in Canada and New Zealand. Chinese trade and Japanese wage data to be watched too. But Iran and AI headlines to remain in driver’s seat for risk sentiment.

Bitcoin dips, Ethereum consolidates, XRP stalls

Bitcoin, Ethereum and Ripple steadied on Monday after falling over 2.8%, 3.55% and 2.35%, respectively, the previous week. BTC trades below the key resistance level, ETH consolidates between the 50-day and 100-day Exponential Moving Averages.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.