Pound Sterling Price News and Forecast: GBP/USD buyers hesitate as key resistance holds

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling buyers hesitate as key resistance holds

GBP/USD gathered recovery momentum and gained more than 0.3% on Monday, snapping a two-day losing streak. The pair holds steady near 1.2700 in the European session on Tuesday and technical buyers could look to retain control once this level is confirmed as support.

The improving risk mood at the beginning of the week caused the US Dollar (USD) to lose interest. The mixed action seen in major US equity indexes in the American session, however, made it difficult for GBP/USD to stretch higher on Monday. Read more...

GBP/USD Forecast: Pound Sterling needs to clear 1.2700 to attract buyers

Following Thursday's sharp decline, GBP/USD stretched lower and touched its weakest level since mid-May near 1.2620 on Friday. After ending the week in negative territory, GBP/USD stages a correction and trades above 1.2650 on Monday.

The US Dollar (USD) gathered strength heading into the weekend after the preliminary S&P Global Manufacturing and Services PMI for June showed that the business activity in the US private sector continued to expand at a robust pace. 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.

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.