Pound Sterling Price News and Forecast: GBP/USD – Bulls seize control

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GBP/USD Price Forecast: Bulls seize control as USD plummets on US-Iran ceasefire

The GBP/USD pair prolongs its uptrend for the third consecutive day and rallies to over a two-week top on Wednesday, with bulls now looking to build on the momentum further beyond the 200-day Simple Moving Average (SMA). The US Dollar (USD) slumps to a nearly one-month low during the first half of the European session amid hopes for an end to the Middle East war and turns out to be a key factor acting as a tailwind for the currency pair.

US President Donald Trump announced in a post on Truth Social that he will suspend planned military strikes against Iran for two weeks. Iran also signaled a conditional willingness to de-escalate tensions, provided attacks against the country are halted. The positive development boosted investors' sentiment, sending the safe-haven Greenback tumbling lower and assisting the GBP/USD pair in building on this week's rise from the 1.3175 region. Read more...

GBP/USD Price Forecast: Reclaims two-week high around 1.3445 as sentiment improves

The Pound Sterling surges against the US Dollar (USD) on Wednesday as the market sentiment turns favorable for riskier assets, is up 1% to near 1.3445 during the early European session. The announcement by United States (US) President Donald Trump that he has suspended planned attacks on Iran’s power plants, following Tehran’s agreement to reopen the Strait of Hormuz for two weeks, has boosted the risk-on impulse.

S&P 500 futures gain over 2.7% in the European trade, reflecting strong demand for risk-sensitive assets. The US Dollar Index (DXY), which tracks the greenback’s value against six major currencies, trades 0.75% lower to near 98.75. Read more...

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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.

EUR/USD trims losses, back above 1.1500

EUR/USD picks up some pace and bouces off earlier lows, reclaiming the 1.1500 threshold and beyond at the end of the week. The pair’s modest pullback follows a persistent risk-averse market mood and renewed buying interest for the US Dollar.

Gold: The $4,000 mark holds the downside for now

Gold faces renewed selling pressure, falling sharply toweard the $4,000 mark per troy ounce as the US Dollar regains momentum. Escalating US-Iran tensions are keeping inflation concerns and expectations of further Fed rate hikes alive, weighing further on the yellow metal.

Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

Warsh needs to restore his reputation

We were glad to see our deeply negative reaction to the Warsh press conference was not some personal peculiarity. Just about everybody in the financial press felt the same way. The consensus is building it’s not the Fed in the dog-house but only Warsh. Today the WSJ changed it tune and blasted Warsh—"the honeymoon is already over..”

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.