Pound Sterling Price News and Forecast: GBP/USD could target the nine-day EMA support at 1.2613

FXStreet Team FXStreet

GBP/USD Price Forecast: Tests 1.2650 support near nine-day EMA

The GBP/USD pair gives up part of its recent gains from the prior session, hovering around 1.2650 during Wednesday’s Asian session. Despite this pullback, technical analysis of the daily chart indicates a sustained bullish outlook, as the pair remains within an ascending channel pattern.

The 14-day Relative Strength Index (RSI) stays above the 50 mark, reflecting strengthened bullish momentum. Additionally, the pair continues to trade above the nine- and 14-day Exponential Moving Averages (EMAs), highlighting robust short-term price dynamics and confirming the prevailing upward trend. Read more...

GBP/USD continues to churn near key technical levels

GBP/USD caught a small lift on Tuesday, bolstering Cable back into the high end of near-term consolidation and keeping bids pinned close to the 200-day Exponential Moving Average (EMA). US consumer sentiment dipped in February, adding more weight to economic slowdown concerns, and US President Donald Trump has reaffirmed his intent to impose stiff import taxes on his own citizens as a trade war threat against the US’ closest trading partners.

Despite weakening consumer sentiment, driven largely by fears of President Trump’s own tariff packages, Cable maintained a positive tilt on Tuesday. Despite a fresh go around the wheel of President Trump’s trade war attempts, markets continue to believe that the US President will find an 11th hour reason to kick the can down the road on his own tariff threats. Read more...

GBP/USD climbs as US Dollar weakens due to falling yields

The Pound Sterling (GBP) advanced early in the North American session, bouncing off a two-day low of 1.2605, as the Greenback weakened due to falling US Treasury yields. The GBP/USD pair trades at 1.2669, gaining 0.37%.

The market mood shifted sour amid US President Donald Trump's threats of tariffs. On Monday, he reiterated that duties on Canadian and Mexican products would be enacted as planned. In the meantime, weaker-than-expected data from the United States (US) has begun to take its toll on the US Dollar (USD) and is also sending US Treasury bond yields plunging. The US 10-year Treasury note plummets 10 basis points (bps) to 4.30% at the time of writing. Read more...

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FXStreet

EUR/USD looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold retains positive bias amid sustained safe-haven flows and modest USD pullback

Gold maintains its offered tone through the first half of the European session, though it lacks follow-through and remains below the $5,200 mark. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

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.