Pound Sterling Price News and Forecast: GBP/USD could correct lower before next leg higher [Video]

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GBP/USD Forecast: Pound Sterling could correct lower before next leg higher

GBP/USD started the week on a bullish note and touched its highest level since February 2022 near 1.3600. The pair corrects lower in the European session and the technical outlook suggests that it remains overbought in the near term.

The US Dollar (USD) came under strong selling pressure on Friday and fuelled a decisive rally in GBP/USD heading into the weekend as United States (US) President Donald Trump threatened the European Union (EU) with 50% tariffs, noting that their discussions were going nowhere. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The daily chart presents a distinctly bullish scenario for GBPUSD, showcasing strong impulsive characteristics in its current Elliott Wave configuration. This setup places the developing navy blue wave 3 within the broader gray wave 1, signaling the completion of the corrective navy blue wave 2 and the start of a potential long-lasting bullish impulse. This suggests GBPUSD has entered the most aggressive stage of its upward cycle. Read more...

GBP/USD Weekly Forecast: Next on the upside emerges the 2022 peaks

The British Pound held a firm tone throughout the week, pushing GBP/USD beyond the 1.3500 mark on Friday, territory last seen in late February 2022.

Sterling’s advance was driven largely by sustained pressure on the US Dollar (USD), which accelerated in the latter part of the week following President Donald Trump’s threat to impose 50% tariffs on European Union (EU) imports. Read more...

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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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.