Pound Sterling Price News and Forecast: GBP/USD edges slightly lower

FXStreet Team FXStreet

Pound Sterling recovers against US Dollar on US recession fears

The Pound Sterling (GBP) bounces back to near 1.2800 against the US Dollar (USD) in Tuesday’s North American session from the monthly low of 1.2707 posted on Monday. The GBP/USD pair recovers as the US Dollar resumes its downside move after a short-lived recovery in the last two trading days. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, tumbles to near 103.00. Read more...

GBP/USD edges slightly lower – Scotiabank

Pound Sterling (GBP) is soft, down a modest 0.2% vs. the US Dollar (USD) and a mid-performer among the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.

"UK PM Starmer’s response to trade tensions appears to be centered around domestic measures targeting regulation reforms and tax breaks for sectors impacted by the US tariffs. Rate expectations have also shifted, with markets moving to price in a full 25bps cut for the BoE’s May 8 meeting, adding about 5bps over the past week or so." Read more...

GBP/USD: Set to edge lower to 1.2675 before stabilising – UOB Group

Pound Sterling (GBP) could edge lower to 1.2675 before stabilisation is likely vs US Dollar (USD); any further decline is unlikely to reach 1.2580. In the longer run, GBP could decline further; it is unclear if it can reach the next major support at 1.2580, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

24-HOUR VIEW: "GBP dropped sharply for the second day in a row yesterday, closing lower by 1.41% at 1.2724. The sharp decline over the past couple of days is deeply oversold. However, GBP could edge lower to 1.2675 before stabilisation is likely. Any further decline is unlikely to reach the next major support at 1.2580. Resistance is at 1.2820; a breach of 1.2870 would indicate that the current downward pressure has eased." Read more...

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FXStreet

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.