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Pound Sterling Price News and Forecast: GBP/USD dips below 100-day SMA, sellers target 1.2900

FXStreet Team FXStreet

GBP/USD Price Forecast: Dips below 100-day SMA, sellers target 1.2900

The Pound Sterling extended its losses for the third straight day against the Greenback amid a scarce economic docket in the UK that will feature remarks of Bank of England (BoE) Governor Andrew Bailey. At the time of writing, the GBP/USD trades at 1.2954, down 0.22%. Read More...

Pound Sterling retreats as BoE seems to cut interest rates next month

The Pound Sterling (GBP) retreats against the majority of its peers on Wednesday. The British currency falls despite BoE Monetary Policy Committee member Megan Greene delivered a slightly hawkish interest rate guidance in a discussion with the Atlantic Council think-tank on the sidelines of the International Monetary Fund’s (IMF) meeting on Tuesday. Read More...

GBP/USD tests 1.3000, faces headwinds due to dovish sentiment surrounding the BoE

The GBP/USD pair edges higher toward 1.3000 during Asian trading on Wednesday. However, the Pound Sterling (GBP) faced headwinds due to declining consumer and producer inflation figures, coupled with weak labor market data in the United Kingdom (UK). These factors are fueling expectations that the Bank of England (BoE) may implement a 25 basis point rate cut in November, followed by another quarter-point cut in December. Read More...

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GBP/USD bounces off lows, back above 1.3200

After bottoming out near 1.3160, GBP/USD manages to regain a bit of shine and reclaim the 1.3200 mark and beyond at the end of the week. Stronger-than-expected UK Retail Sales data seem to be helping the British Pound limit its losses, while the chaotic UK political environment keeps the bulls at bay for now.

EUR/USD looks consolidative around 1.1460

EUR/USD stages a modest rebound after slipping to a three-month low below 1.1420 at the end of the week. That said, the pair now looks to consolidate humble gains just above 1.1460 despite growing uncertainty surrounding the next round of US-Iran negotiations, which keeps the US Dollar’s downside contained.

Gold slips back to six-day lows, targets $4,100

Gold retreats for the third consecutive day on Friday, eroding gains seen in the first half of the week and approaching the key $4,100 mark per troy ounce. Indeed, the precious metal continues to face headwinds from the Fed's hawkish stance and renewed uncertainty surrounding the next round of US-Iran negotiations.

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."

The Iran war didn't break the US economy, but what happens next?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.

Pound Sterling Price News and Forecast: GBP/USD dips below 100-day SMA, sellers target 1.2900

GBP/USD Price Forecast: Dips below 100-day SMA, sellers target 1.2900

Pound Sterling retreats as BoE seems to cut interest rates next month

GBP/USD tests 1.3000, faces headwinds due to dovish sentiment surrounding the BoE

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GBP/USD bounces off lows, back above 1.3200

EUR/USD looks consolidative around 1.1460

Gold slips back to six-day lows, targets $4,100

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

The Iran war didn't break the US economy, but what happens next?

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

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GBP/USD Price Forecast: Dips below 100-day SMA, sellers target 1.2900

Pound Sterling retreats as BoE seems to cut interest rates next month

GBP/USD tests 1.3000, faces headwinds due to dovish sentiment surrounding the BoE

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