Pound Sterling Price News and Forecast: GBP/USD edges higher to near 1.3430 early European session

FXStreet Team FXStreet

GBP/USD Price Forecast: Immediate resistance level emerges above 1.3450

The GBP/USD pair attracts some buyers to around 1.3430 during the early European trading hours on Monday. The Greenback weakens against the Pound Sterling (GBP) after Federal Reserve (Fed) Chair Jerome Powell said US President Donald Trump threatened him with a criminal indictment, raising concerns over the central bank's independence.

The US Justice Department served the agency with subpoenas and threatened a criminal indictment over testimony he gave to a Senate committee about renovations to Fed buildings. Powell called the probe "unprecedented" and said he believed it was opened due to him drawing Trump's ire over refusing to cut interest rates despite repeated public pressure from the president. Read more...

GBP/USD rebounds from three-week low, eyes mid-1.3400s as Fed concerns weigh on USD

The GBP/USD pair attracts some buyers near a technically significant 200-day Simple Moving Average (SMA) and recovers slightly from a nearly three-week low, touched during the Asian session on Monday. Spot prices, for now, seem to have snapped a four-day losing streak and currently trade around the 1.3435 region, up 0.20% for the day.

Despite the global flight to safety and reduced bets for more aggressive policy easing by the US Federal Reserve (Fed), renewed concerns about the US central bank's independence weigh on the US Dollar (USD) and benefit the GBP/USD pair. In fact, Fed Chair Jerome Powell said in a statement that the Department of Justice is threatening a criminal indictment against him. Powell added that the threat of criminal charges is a consequence of the Fed on our best assessment of what will serve the public, rather than following the preference of the President. Read more...

GBP/USD Weekly Forecast: Can Pound Sterling withstand renewed US Dollar demand?

The Pound Sterling (GBP) witnessed a steep correction against the US Dollar (USD), sending GBP/USD down from four-month highs of 1.3568 to test the weekly low near 1.3400. An impressive USD recovery and simmering geopolitical tensions globally remained major headwinds to GBP/USD’s uptrend, fueling a notable retracement during the past week.

Safe-haven demand for the Greenback surged at the start of the week as markets took into account the United States’ (US) military aggression in Venezuela and the capture of the former President Nicolas Maduro over the weekend. Markets remained concerned that the US-Venezuela conflict could extend into other countries such as Mexico and Colombia. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD flat lines around mid-1.3300s vs USD amid Iran tensions

The GBP/USD pair struggles to capitalize on last week's strong move higher and oscillates in a narrow band, around the 1.3350 area during the Asian session on Monday. Moreover, spot prices remain below a technically significant 200-day Simple Moving Average, warranting caution before positioning for an extension of the recent recovery from the 1.3140 zone, or the year-to-date low touched in June.

EUR/USD consolidates below mid-1.1400s as Hormuz risks support safe-haven USD

The EUR/USD pair kicks off the new week on a subdued note and oscillates in a narrow band below mid-1.1400s during the Asian session. Spot prices, however, remain within striking distance of a nearly two-week high, touched last Thursday, amid mixed fundamental cues.

Gold recaptures 21-day SMA, but sellers refuse to give up yet

Gold stalls its recent recovery just above $4,200 early Monday, as the Strait of Hormuz risks lurk. The US Dollar rebounds on renewed haven demand and the USD/JPY advance. Gold finds acceptance above the 21-day SMA, but the daily RSI remains bearish.

Steady recovery in Bitcoin nears key resistance – PUMP and HYPE lead gains

Bitcoin steadies above $63,000 at press time on Monday following a five-day recovery stretch last week, totaling roughly 7% gains. Easing risk-off sentiment in the broader market supports the mild recovery in action, with Pump.fun and Hyperliquid leading gains over the last 24 hours.

Why central banks are loading up on Gold during the current 30% correction

Gold has crashed from $5,500 to $4,000 in five months, marking a decline of almost 30% that has triggered widespread retail panic. However, this correction could present a significant opportunity, driven by an unprecedented market indicator: central bankers and the world's largest asset managers are aggressively buying.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.