Pound Sterling Price News and Forecast: GBP/USD gains for the first time in four weeks

FXStreet Team FXStreet

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.

EUR/USD loses traction after earlier rebound, tests 1.1600

EUR/USD fails to preserve its recovery momentum after rising toward 1.1650 earlier in the day and tests 1.1600. The risk-averse market atmosphere amid the widening conflict in the Middle East and the broad-based US Dollar strength make it difficult for the pair to hold its ground.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD stays in negative territory near 1.3350 in the second half of the day Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh safe-haven demand, weighing on the pair.

Gold struggles to benefit from risj-aversion, drops toward $5,100

Gold turns south in the American session on Thursday and declines toward $5,100. The persistent US Dollar (USD) strength doesn't allow XAU/USD to gather recovery momentum despite markets remain risks-averse due to the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Markets attempt to rally on positive news from Iran

There’s been an abrupt change in sentiment this morning, European stock markets are higher and oil and gas prices are moderating, after comments from Iran’s deputy minister about pre-conflict talks between Iran and the US.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.