Pound Sterling Price News and Forecast: GBP/USD drops as UK GDP shrinks for second straight month

FXStreet Team FXStreet

Pound Sterling drops as UK GDP shrinks for second straight month

The Pound Sterling (GBP) faces selling pressure against its major peers on Friday following the release of the United Kingdom (UK) Gross Domestic Product (GDP) data for October. The GDP report showed that the economic growth contracted again by 0.1%, missing expectations of a 0.1% expansion. Read More...

GBP/USD steadies at fresh near-term highs

GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar (USD) into the low side across the board. Read More...

GBP/USD climbs above 1.34 as Fed cut and soft data weigh on US Dollar

The Pound Sterling (GBP) rallies during the North American session on Thursday, up over 0.68% after the Federal Reserve (Fed) delivered a 25-basis-point rate cut and a softer-than-expected jobs report, which weighed on the US Dollar (USD). At the time of writing, GBP/USD trades at 1.3417, its highest level in the last six weeks. Read More...

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EUR/USD stays offered, sinks below 1.1700

EUR/USD leaves behind two daily advances in a row, facing renewed selling pressure and returning to the sub-1.1700 region in response to the late rebound in the US Dollar ahead of the opening bell in Asia. On Thursday, market participants are expected to closely follow the US weekly report on the labour market, GDP prints and the PCE data.

GBP/USD looks vacillating around 1.3430

GBP/USD is alternating gains with losses midweek, pushing back towards the 1.3430 area after bottoming out near the 1.3400 support. The modest recovery in Cable comes as the US Dollar advances modestly following President Trump’s comments at the World Economic Forum.

Gold corrects sharply lower, bulls retain control

Gold pushed its rally further on Wednesday, hitting a fresh all-time high near $4,900 per troy ounce earlier in the session. Risk appetite remains fragile, with investors staying cautious after President Trump delivered his speech in Davos, while EU–US tensions over the Greenland issue continue to simmer.