Pound Sterling Price News and Forecast: GBP/USD has dropped below 1.2440 after losing upside momentum

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GBP/USD turns subdued as USD Index rebounds ahead of US Durable Goods Orders

The GBP/USD pair has dropped below 1.2440 in the Asian session amid exhaustion in the Asian session. The Cable has faced some selling pressure as the US Dollar Index (DXY) has shown a recovery move after defending the critical support of 101.63.

S&P500 futures have added more losses in the Asian session amid anxiety among market participants ahead of quarterly results from technology giants. Amazon, Facebook, and Google will release their quarterly earnings this week. The street is worried about the impact of declining demand due to higher interest rates by the Federal Reserve (Fed) on their results. Read more...

GBP/USD Price Analysis: Consecutive Dojis indicate indecisiveness

The GBP/USD pair has rebounded sharply above 1.2440 in the early Tokyo session. The Cable is looking to extend its recovery ahead as investors are very much confident of further rate hikes from the Bank of England (BoE).

BoE Deputy Governor Dave Ramsden said in an interview with The Times that the central bank must stop the risk of high inflation becoming embedded in the economy. He added there were still signs of stubbornly high inflation. However, the United Kingdom Retail Sales data landed on Friday contracted more than expected. Monthly (March) Retail Sales data contracted by 0.9% while the street was anticipating a contraction of 0.5%. UK’s stubborn inflation has heavily impacted households’ retail demand. Read more...

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FXStreet Team

FXStreet

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 defends 1.3300 after strong UK PMI data

Following Thursday's sharp decline, GBP/USD clings to small gains above 1.3300 in the American session on Friday, supported by the upbeat UK Retail Sales and July PMI data. Nevertheless, the pair's upside remains capped as investors cling to a cautious stance amid a further escalation of tensions in the Middle East. The US July PMI data failed to trigger relevant price action.

EUR/USD remains below 1.1400 after mixed US PMIs

EUR/USD pressures daily lows below the 1.1400 mark in the American session on Friday. Mixed S&P Global PMIs, as manufacturing output contracted while services activity expanded in July, triggered no relevant market reaction. The focus remains in Middle East developments and inflation-related concerns.

Gold holds above $4,050 but momentum still missing

Gold builds on its modest intraday bounce and climbs above the $4,050 level on Friday, hitting a fresh daily high amid a modest US Dollar pullback. The fundamental backdrop, however, warrants some caution before confirming that the pullback from an over two-week high, touched on Wednesday, has run its course and positioning for any meaningful upside.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

XRP retreats as ETF interest cools

Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.