Pound Sterling Price News and Forecast: GBP/USD bulls ready to challenge this year’s high

FXStreet Team FXStreet

GBP/USD Forecast: Sterling on course to hit three-year highs, defying overbought conditions

GBP/USD has been benefiting from the upbeat market mood which weighs on the dollar. Robust UK job figures and less fear from the virus strains is boosting sterling. Tuesday's four-hour chart is showing that cable has entered overbought conditions. Can technicals defy fundamentals and pull cable back down? It seems that the answer is no, as the pound has plenty of reasons to rise while the dollar has reasons to tumble down. Read more...

GBP/USD Forecast: Bulls ready to challenge this year’s high

The GBP/USD pair surged to 1.4219 on the back of the persistent dollar’s weakness and better than expected UK data. The kingdom published the ILO unemployment rate for the three months to March, which contracted to 4.8% vs the steady 4.9% expected. Also, the Claimant Count Change fell by 15.1K in April, much better than the 25.6K increase expected. The pair´s positive momentum eased during the American afternoon, as Wall Street was unable to post substantial gains, instead closing mixed. Read more...

Sterling cruises to a four-month high

The British pound rose to the highest level since February 24 after the strong economic data from the UK. The data showed that the country’s unemployment rate declined t0 4.8% in March as the government started its gradual reopening. This decline was better than the median estimate of 4.9%. At the same time, the economy added 84,000 jobs in the past three months to March, better than the median estimate of 50,000. Read more...

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EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.