Pound Sterling Price News and Forecast: GBP/USD is holding in positive territory

FXStreet Team FXStreet

GBP/USD bulls taking on bearish commitments at a 61.8% Fibo

GBP/USD refreshes intraday low with 1.3802, currently around 1.3810, during its fifth day of declines on Tuesday.

GBP/USD is currently trading at 1.3890 at the time of writing, rising from a low of 1.3801 to a high of 1.3925, up some 0.54% on the day so far. The pound is supported by positive developments in Britain's vaccination programme, with the Bank of England's governor cautiously optimistic about the nation's economic recovery.

More than 22 million people have already had the first dose of a COVID-19 vaccine in the UK which has encouraged demand for UK assets. In the prior week's futures markets, net GBP long positions surged to their highest levels since April 2018.

GBP/USD Forecast: Bulls may have better chances if the recovery extends beyond 1.3950

The GBP/USD pair reached an intraday high of 1.3925, recovering on the easing dollar’s demand. The pair settled in the 13890 price zone, despite the positive tone of equities, as global indexes closed in the green. The pair’s direction kept depending solely on the US as the UK macroeconomic calendar remains scarce, with the focus on coronavirus vaccines roll-out. The country is among the ones that have vaccinated the most of its population, with roughly 34% of the UK inhabitants having received at least one shot. Nevertheless, the number of new contagions remains above 5,000 per day, and while improving, it’s still high.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.