Pound Sterling Price News and Forecast: GBP/USD increased bearish potential despite upbeat UK data

FXStreet Team FXStreet

GBP/USD Forecast: Sterling exits overbought conditions, ready to rally with some Fed fuel

GBP/USD has been retreating as the US dollar gains some ground. Britain's progress against the virus and the Fed's dovishness could push it to higher ground. Wednesday's four-hour chart shows that cable is out of overbought conditions. Using the previous resistance line as support – a classic technical move that is good news for the bulls is now unfolding in GBP/USD. Before looking at the charts, it is essential to understand what fundamentals look like in cable. Read more...

GBP/USD Forecast: Increased bearish potential despite upbeat UK data

The GBP/USD pair fell on a daily basis, settling in the 1.4110 price zone. The pound enjoyed some temporal demand following the release of UK inflation figures. The official report showed that the April Consumer Price Index rose 1.5% YoY, surpassing the 1.4% expected and following a 0.7% advance in the previous month. Read more...

GBP/USD outlook: Cable loses traction as European stocks extend weakness

Cable is losing traction in European trading on Wednesday, failing to capitalize from upbeat April’s UK inflation figures. Pound faced strong headwinds at 1.4200 zones that was shown by long upper shadow of Tuesday’s daily candle. Drop of European equities on Wednesday weighed on risk sentiment and pushed the sterling lower, adding to signals that bulls are running out of steam. Read more...

Author

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 edges lower but remains close to multi-month top, awaiting US PCE

The GBP/USD pair trades with a negative bias below mid-1.3600s during the Asian session, eroding a part of the previous day's strong gains. Spot prices, however, remain within striking distance of a six-month top, set last Friday, as traders keenly await the release of the US Personal Consumption Expenditures (PCE) Price Index data for a fresh impetus.

EUR/USD Remains sideways ahead of key US events

EUR/USD clinches humble gains around 1.1670 following Tuesday’s close on Wall Street. Indeed, marginal losses in the US Dollar encourages spot to set aside two dauly pullbacks in a row and maintain the 1.1700 barrier on the cross-hairs for now. Moving forward, US inflation tracked by the PCE and another revision of Q2 GDP data should keep investors entertained on Wednesday.

Gold trades with negative bias below $4,650 as USD edges higher ahead of US PCE

Gold attracts fresh sellers following the previous day's two-way price swings, and trades below $4,650. The US Dollar regains positive traction amid some repositioning ahead of the release of the US Personal Consumption Expenditures Price Index and is seen as undermining the commodity. The crucial US inflation data, along with Federal Reserve Chair Kevin Warsh's remarks at the Jackson Hole Symposium on Friday, might offer more cues over the interest rate path.

Dogecoin, Shiba Inu, Pepe: Profit-taking cools last week’s rally

Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are losing their bullish momentum after last week’s double-digit gains. Facing downside pressure amid profit-taking, DOGE and PEPE risk further decline while SHIB holds at a support level.

America’s self‑inflicted trade wound

I’m conflicted about the trade war that the U.S. has started with Canada. Let’s be clear: any representation that Canada has been taking unfair advantage of the U.S. or that they have been treating us badly for years is a bogus characterization. In reality, the shoe is on the other foot. It’s the U.S. that has been behaving badly.

Canada hits US goods with tariffs; The rate market sees a problem

On September 8, Canada begins charging its own importers 15%, 25% and 50% on roughly 700 lines of American goods. The measure is billed as dollar for dollar, and on the arithmetic of covered trade it is. What it is not is a tax on the United States.