Pound Sterling Price News and Forecast: GBP/USD hovers near 1.3600

FXStreet Team FXStreet

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling (GBP) may weaken amid a fresh government crisis in the United Kingdom (UK). Downing Street Chief of Staff Morgan McSweeney has resigned, accepting responsibility for advising Prime Minister Keir Starmer on the appointment of Jeffrey Epstein-linked Peter Mandelson as US ambassador.

The US Dollar (USD) comes under pressure against its peers, with traders turning cautious ahead of key economic releases that were delayed by the partial government shutdown. The January jobs report, due on Wednesday, is expected to point to stabilization in the labor market, with US Nonfarm Payrolls forecast to rise by 70,000, while the Unemployment Rate is seen holding steady at 4.4%. Meanwhile, the delayed January consumer price index data is scheduled for release on Friday. Read more...

GBP/USD Price Forecast: Holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s (BoE) interest-rate cut weighs on the Pound Sterling (GBP) against the Greenback.

The BoE was widely expected to leave interest rates unchanged at 3.75%, but the number of Monetary Policy Committee (MPC) members supporting keeping rates unchanged was lower than the seven expected by markets. Read more...

GBP/USD Weekly Forecast: Pound tests key support as US and UK data loom

The Pound Sterling (GBP) changed course against the US Dollar (USD), with GBP/USD giving up nearly 200 pips in a dramatic correction.

GBP/USD faced a double whammy during the week, with resurgent haven demand for the US Dollar (USD) on one hand. While the dovish Bank of England (BoE) interest rate on hold decision smashed the pair on the other hand. Read more...

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GBP/USD holds range near 1.3500 after UK growth data

GBP/USD keeps its range near the 1.3500 psychological mark in the European session on Thursday after the mixed macroeconomic data releases from the UK failed to trigger a noticeable market reaction. Meanwhile, the US Dollar stabilizes after the US CPI data-led sell-off, checking any upside attempts in the pair.

EUR/USD holds above 1.1500 after US producer inflation data

EUR/USD trades within its daily range above 1.1500 on Thursday. The risk-averse market atmosphere amid the persistent Middle East uncertainty helps the US Dollar (USD) hold its ground despite the softer-than-expected producer inflation data for July and makes it difficult for the pair to gain traction.

Gold stays weak below $4,400 as USD stalls post-CPI decline

Gold holds its intraday retracement slide from the highest level since June 5 at the $4,450 area touched earlier this Thursday, and trades below the $4,400 mark in the European session. The initial market reaction to signs of moderating US inflation fades quickly as investors remain worried that higher energy prices will rekindle inflationary pressures, pausing the US Dollar's downside.

XRP holds at make-or-break level, ADA and SOL risk 50-day EMA breakout

Top altcoins, including Ripple, Cardano, and Solana, are facing downside pressure, holding at crucial support levels. The technical outlook for XRP, ADA, and SOL indicates a mild bearish bias as downside pressure mounts.

Boring CPI, boring August?

Yesterday’s unexciting US CPI print left FX with little sense of direction into the end-August Jackson Hole Symposium. What can stop this relentless decline in volatility? Gulf news, Fedspeak and big surprises in tier-two data are all possible candidates. But there’s a good chance they won’t, and EUR/USD may stay in tight ranges for the next few weeks.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.