Pound Sterling Price News and Forecast: GBP/USD is making efforts for delivering extending upside

FXStreet Team FXStreet

GBP/USD gathers strength for more upside above 1.2450 as Fed to pause policy-tightening spell

GBP/USD is oscillating above 1.2450 after a recovery move and is looking to extend its rally further as the Federal Reserve (Fed) is considering a pause in the policy-tightening spell amid tight credit conditions by the United States regional banks. The US Dollar Index (DXY) is hovering near its day’s low around 103.00 as fears of a default by the US Treasury are escalating.

S&P500 futures have recovered decent losses added in early Asia, however, a cautious approach is still in season. US equities settled negative on Friday after US President Joe Biden denied approving partisan terms offered by House of Representatives Kevin McCarthy against delivering consent for a raise in the US debt-ceiling. Read more...

GBP/USD Price Analysis: Climbs firmly above 1.2450 ahead of Monday’s US borrowing cap talks

The GBP/USD pair has climbed back above the immediate resistance of 1.2450 in the early Asian session. An absence of positive development in US debt-ceiling talks this weekend has fueled worries of a default by the US Treasury. US President Joe Biden and House of Representatives Joseph McCarthy are scheduled to meet on Monday as less than two weeks are left for US Treasury to avoid a default on obligated payments.

S&P500 futures have added decent loss in early Tokyo amid sheer volatility. The US Dollar Index (DXY) is returning back to 103.00 after a short-lived pullback move. Rising chances of a steady interest rate policy by the Federal Reserve (Fed) and volatility associated with US debt-ceiling issues have restricted the upside for the USD Index. Read more...

Author

FXStreet Team

FXStreet

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.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

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.