Pound Sterling Price News and Forecast: GBP/USD extends its gains due to improved risk sentiment

FXStreet Team FXStreet

GBP/USD rises above 1.2850 ahead of UK Retail Sales figures

GBP/USD continues to strengthen for the second consecutive session, trading around 1.2870 during the Asian hours on Friday. The improved risk sentiment, driven by a stronger-than-expected recovery in US Retail Sales, has eased concerns about a potential US recession and boosted risk-sensitive currencies like the Pound Sterling (GBP).

Additionally, the British Pound gained ground due to positive key economic data released on Friday, including Gross Domestic Product (GDP) data, from the United Kingdom (UK). The UK economy expanded 0.6% quarter-on-quarter in the second quarter, as expected. Meanwhile, the GDP rose 0.9% YoY in Q2 vs. 0.9% expected and 0.3% booked in Q1. Read more...

GBP/USD bulls aim for 1.2900 amid risk appetite recovery

GBP/USD found the gas pedal on Thursday after a steeper-than-expected recovery in US Retail Sales pushed Cable back into the high end. Market sentiment rebounded on the day after fears of a possible US recession were cooled by US data beating expectations, and the Pound Sterling caught additional bullish momentum from UK Gross Domestic Product (GDP) growth meet expectations and UK Manufacturing Production handily exceeding forecasts in July.

Coming up on Friday, UK Retail Sales are expected to rebound from a recent downswing. MoM Retail Sales in July are forecast to rise to 0.5% after the previous month’s -1.2% contraction, with the YoY figure expected to surge to 1.4% from the previous -0.2% contraction. On the US side, the University of Michigan’s Consumer Sentiment Survey Index is expected to show an improvement in consumer economic expectations, with the figure forecast to tick up to 66.9 from an eight-month low of 66.4. Read more...

GBP/USD recovers balance post-US Retail Sales

GBP/USD recovered back into the high side on Thursday after a bullish tilt in UK data prints coupled with better-than-expected US Retail Sales figures helped to improve overall market sentiment and keep the Greenback pinned on the low side.

US Retail Sales growth lurched to an 18-month high of 1.0% MoM in July, well above the forecast 0.3% and entirely engulfing the previous month’s -0.2% contraction. Improving economic health indicators are helping to stave off recent concerns of a potential recession within the US. However, rate markets got cold water thrown on recent bets of a double cut from the Federal Reserve (Fed) in September. Read more...

Author

FXStreet Team

FXStreet

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.