Pound Sterling Price News and Forecast: GBP/USD could advance beyond the 1.3700 figure

FXStreet Team FXStreet

GBP/USD extending the upside, however, naked 1.3605 to be restested?

GBP/USD is moving higher in Asia, printing fresh highs for the week. The forex space is dominated by the US dollar which has been licking wounds on Wednesday while US yields sapped momentum from its recent rebound. The benchmark 10-year Treasury yields lost some 7 basis points from a 10-month high hit on Tuesday and the turnaround capped a three-day streak for the dollar.

GBP/USD Forecast: Possible extension towards 1.3715

The British Pound was the best performer against the greenback this Tuesday, with GBP/USD hitting 1.3651, to close the day a handful of pips below the level. The sterling got boosted by Bank of England’s Governor Andrew Bailey, who cooled expectations of negative rates, after noting that they are a controversial issue. He also said that it’s too early to reach any conclusion about the need for future stimulus.

EUR/USD struggles to regain momentum in the low1.1600s

EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.

XRP rises alongside peers as ETFs attract inflows

Ripple (XRP) is gaining upside momentum, trading above $1.40 at the time of writing on Wednesday. The remittance token is rising in tandem with major crypto assets, including Bitcoin (BTC), which has crossed above the pivotal $70,000 level, and Ethereum (ETH), which is holding above $2,000.

First Venezuela, now Iran: The US-China energy war escalates

At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.

Bittensor extends recovery despite retail demand slump

Bittensor, a leading Artificial Intelligence token, is aging up above $190 at the time of writing on Wednesday. Steady price increases characterise the broader crypto market, with Bitcoin holding above $71,000 and Ethereum above $2,000.