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Pound Sterling Price News and Forecast: GBP/USD edges lower and is pressured by a modest USD strength

FXStreet Team FXStreet

GBP/USD flirts with daily low around 1.2700 mark, FOMC minutes eyed for fresh impetus

The GBP/USD pair extends the previous day's late pullback from a multi-day peak, around the 1.2735-1.2740 area and remains on the defensive through the Asian session on Wednesday. Spot prices currently trade around the 1.2700 mark as traders await fresh clues about the Federal Reserve's (Fed) future rate-hike path.

Growing acceptance that the US central bank will lift borrowing costs by 25 bps at the end of the July policy meeting remains supportive of elevated US Treasury bond yields. This, in turn, lends some support to the US Dollar (USD) and seems to weigh on the GBP/USD pair. That said, the incoming softer US macro data raises questions over how much headroom the Fed has to continue raising interest rates and holds back the USD bulls from placing aggressive bets. Read more...

GBP/USD Price Analysis: Cable retreat appears elusive beyond 1.2690 support confluence

GBP/USD bulls take a breather amid the early hours of Wednesday’s Asian session, after refreshing the weekly top around 1.2740 the previous day. That said, the Pound Sterling seesaws near 1.2710-15 by the press time.

Despite the latest inaction, or say a lack of bullish action, the Cable pair remains on the buyer’s radar as it broke the key resistance confluence, now support, comprising the 50-SMA and a downward-sloping trend line from June 16, close to 1.2690. Read more...

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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 climbs to four-day highs near 1.3250

GBP/USD rapidly reverses Friday’s small losses and challenges the 1.3250 level, or four-day tops, at the beginning of the week. Cable’s upside comes on the back of further loss of momentum in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD extends the advance past 1.1400

EUR/USD starts the week on a positive note, trading above 1.1400 on Monday as broad-based US Dollar weakness lends support to the pair. In the meantime, investors continue to monitor developments surrounding efforts to end the US-Iran conflict, while attention gradually shifts to the ECB's annual forum and the US NFP data.

Gold falters just ahead of $4,100

Gold remains under modest bearish pressure just above the key $4,000 mark per troy ounce on Monday. The yellow metal struggles to extend its recent gains as renewed effervescence in the Middle East revives inflation concerns and bolsters Fed rate hike expectations.

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Bitcoin price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.

Pound Sterling Price News and Forecast: GBP/USD edges lower and is pressured by a modest USD strength

GBP/USD flirts with daily low around 1.2700 mark, FOMC minutes eyed for fresh impetus

GBP/USD Price Analysis: Cable retreat appears elusive beyond 1.2690 support confluence

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GBP/USD climbs to four-day highs near 1.3250

EUR/USD extends the advance past 1.1400

Gold falters just ahead of $4,100

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Just like Fed, is BoJ’s independence under threat?

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

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GBP/USD flirts with daily low around 1.2700 mark, FOMC minutes eyed for fresh impetus

GBP/USD Price Analysis: Cable retreat appears elusive beyond 1.2690 support confluence

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