GBP/USD bulls step in on US dollar weakness and eye 1.2500
Where there is a price imbalance, PI, on a 4-hour perspective on the way there that guards an order block, OB, above it. At 1.2292, GBP/USD is up 0.16% as the US dollar falls away below a key structure on the DXY chart. The US dollar is extending the downside after it slipped on Friday and posted its first weekly decline this month.
GBP/USD Weekly Forecast: Sellers remain hopeful whilst below key Fibo level
GBP/USD snapped a three-week downtrend and staged a decent comeback despite a variety of mixed fundamental factors from the UK. A pullback in the US dollar from two-decade highs kept cable afloat, although within a familiar 200-pip trading range. Persistent inflation and recession worries kept investors on edge.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

AUD/USD: Further gains need to clear 0.6375
AUD/USD navigated an irresolute day on Wednesday, hovering around the 0.6350 zone on the back of further gains in the US Dollar and amid some prudence ahead of the release of the Australian jobs report on Thursday.

EUR/USD: Initial contention lies at 1.0400
EUR/USD kept its bearish trend well in place for the third consecutive day on Wednesday, slipping back to the 1.0400 zone in response to further improvement in the Greenback.

Gold retreats, holds firmly above $2,920
Prices of Gold now face increasing selling pressure and recedes to the area of daily lows near the $2,930 level per ounce troy in response to the strong bounce in the Greenback, and mixed US yields.

Dogecoin price targets $0.50 as Elon Musk enters $44 billion investment talks for X
Dogecoin price gained 0.30% on Wednesday, getting close to the $0.26 resistance after four consecutive days of losses. News reports show the DOGE markets were lifted by fresh investment talks involving Elon Musk’s social media company X.

Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK
We delve into the world of money market funds. Distinct dynamics are at play in the US, eurozone, and UK. In the US, repo rates are more attractive, and bills are expected to appreciate. It's also worth noting that the Fed might cut rates more than anticipated, similar to the UK. In the eurozone, unsecured rates remain elevated.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.