Pound Sterling Price News and Forecast: GBP/USD bulls refuse to give in

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GBP/USD Forecast: Pound Sterling bulls refuse to give in

After posting small gains on Wednesday, GBP/USD stays relatively quiet in the European session on Thursday and fluctuates in a tight channel at around 1.2950. The pair's near-term technical outlook is yet to offer any clues about a bearish reversal.

Following a sharp decline that lasted seven days, the US Dollar (USD) Index, which tracks the USD's performance against a basket of six major currencies, registered modest gains on Wednesday. Soft inflation data for February may have eased fears over a stagflation in the US and provided a short-lasting support to the currency. Read more...

Pound Sterling flattens against US Dollar as investors gauge Trump tariffs' outcome

The Pound Sterling (GBP) turns sideways around 1.2950 against the US Dollar (USD) on Thursday after posting a fresh four-month high near 1.2990 the previous day. The GBP/USD pair consolidates as the US Dollar steadies after declining for two weeks, while investors weigh the consequences of United States (US) President Donald Trump’s tariff agenda over cooling inflationary pressures and US economic growth. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, gains slightly to near 103.65, marginally higher from an over four-month low of 103.20 reached on Tuesday.

On Wednesday, US President Trump threatened to announce retaliatory tariffs on the European Union (EU) after the 27-nation bloc warned to impose counter-tariffs on goods imported from the US worth 26 billion Euros (EUR). The shared continent vowed to impose counter-surcharges on the US as Trump’s decision to levy 25% tariffs on imports of steel and aluminum across the globe went into effect. Read more...

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EUR/USD remains offered, challenges the 200-day SMA

EUR/USD adds to the current leg lower and comes just pips away from its significant 200-day SMA around 1.1580 as the NA session draws to a close on Thursday. The deeper drop comes in response to the intense advance in the Greenback, this time propped up by firm US data and higher US Treasury yields.

GBP/USD drops to four-week lows near 1.3360

Moving in step with other risk-sensitive peers, GBP/USD is attracting heavier selling and has slipped below the key 1.3400 support on Thursday to hit fresh four-week troughs. Cable’s decline reflects a firmer US Dollar as investors keep evaluating the latest batch of US data.

Gold remains offered just above $4,600

Gold is giving back part of its recent strong run, managing to bounce off earlier lows and reclaim the area beyond the $4,600 mark per troy ounce on Thursday. The pullback comes as the Greenback regains traction, Treasury yields move higher, and some profit-taking kicks in.