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 recovers above 1.1600 as focus shifts to US data

EUR/USD stages a modest rebound and trades in positive territory above 1.1600 in the European session on Wednesday. Improving risk sentiment makes it difficult for the US Dollar to preserve its strength and helps the pair edge higher as focus shifts to key US data releases.

GBP/USD climbs above 1.3350 on improving risk mood

GBP/USD gains traction and advances toward 1.3400 on Wednesday. Although there are no headlines pointing to a de-escalation in the Middle East conflict, the modest recovery seen in US stock index futures limit the USD's gains and help the pair hold its ground.

Gold rebounds toward $5,200 as USD retreats

Gold maintains its offered tone through European session on Wednesday and climbs to the $5,200 region. The downward correction seen in the US Dollar and the ongoing crsis in the Middle East seem to be allowing XAU/USD to preserve its recovery momentum.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.