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

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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...

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EUR/USD remains on the back foot around 1.1700

EUR/USD is coming under heavy selling pressure, hovering around the 1.1700 region in the latter part of the NA session on Monday. The pair’s severe retracement comes as the US Dollar stages a marked bounce on the back of the prevailing flight to safety atmosphere, as investors react to the escalating conflict in the Middle East.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.