Pound Sterling Price News and Forecast: GBP/USD holds lower ground near intraday bottom

FXStreet Team FXStreet

GBP/USD: Mildly offered below 1.2050 as Brexit optimism fades, UK/US data, Fed Chair Powell eyed

GBP/USD prints mild losses around 1.2030-35 during early Monday, consolidating the first weekly gains in three amid the market’s cautious mood ahead of the key catalysts, as well as fading Brexit optimism. Adding filters to the latest market moves could be the downbeat US Treasury yields, extending the previous week’s pullback from a multi-month high, as well as the minor losses of the US stock futures.

That said, the Democratic Unionist Party (DUP) has urged the Government to stop “overselling” its new post-Brexit deal on Northern Ireland and focus on providing clarity on its detail. The same shows the DUP’s dislike for the initial details of the EU-UK deal on the Northern Ireland Protocol (NIP) and raises challenges for the smooth passage of the key Brexit developments in the UK Parliament. To avoid any hardships, the British government is bracing to provide more details on how Northern Irish lawmakers can potentially veto new European Union laws. Read more...

GBP/USD Price Analysis: Cable retreats towards resistance-turned-support near 1.2000

GBP/USD bulls take a breather around 1.2030 during Monday’s initial Asian session, after posting the biggest weekly jump since mid-January.

In doing so, the Cable pair fails to extend the previous day’s upside break of the one-month-old descending resistance line, now support around 1.2020. Read more...

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EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.