Pound Sterling Price News and Forecast: GBP/USD could extend slide if 1.3650 support fails

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling could extend slide if 1.3650 support fails

GBP/USD corrects lower and trades at around 1.3700 on Monday after gaining about 2% last week. The pair's technical outlook points to a loss of bullish momentum in the short term.

GBP/USD rose sharply last week as the risk-positive market atmosphere, on easing geopolitical tensions, and growing concerns over the Federal Reserve (Fed) losing its independence weighed heavily on the US Dollar (USD). Read more...

GBP/USD Price Forecast: Rebounds toward 1.3750 near multi-year highs

The GBP/USD pair retraces its recent losses from the previous session, trading around 1.3730 during the Asian hours on Monday. The bullish bias persists as the daily chart’s technical analysis indicates that the pair moves upwards within the ascending channel pattern.

The 14-day Relative Strength Index (RSI) remains slightly below the 70 level, strengthening the bullish bias. However, a breach above the 70 mark would indicate an oversold situation and a downward correction soon. Additionally, the GBP/USD pair rises above the nine-day Exponential Moving Average (EMA), suggesting the short-term price momentum is stronger. Read more...

GBP/USD Weekly Outlook: Pound Sterling awaits central bank talks in the NFP week

The Pound Sterling (GBP) recovery gathered steam against the US Dollar (USD), driving the GBP/USD pair to the highest level since October 2021, above 1.3750.

It was a clear win-win case for the higher-yielding Pound Sterling as the US Dollar gradually lost its safe-haven appeal amid yo-yo-ing sentiment surrounding the US Federal Reserve’s policy outlook. Read more...

Author

FXStreet Team

FXStreet

EUR/USD recovers some early losses driven by rising energy prices amid US-Iran war

The EUR/USD pair claws back some of its early losses during the late Asian trading session on Monday, but is still 0.25% down to near 1.1780. Earlier in the day, the Euro declined sharply against the US Dollar as investors shifted to the safe-haven fleet amid the brutal war between Iran, Israel, and the United States, which broke out over the weekend.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold looks further north as Iran war boosts haven demand

Gold is taking a breather after the initial run to over one-month highs near $5,400, kicking off the new week with a bang. A global flight to safety theme, following the US-Israel joint attacks on Iran over the weekend, bolstered the demand for the traditional store of value, Gold.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.