Pound Sterling Price News and Forecast: GBP/USD kicks off the new week on a softer note

FXStreet Team FXStreet

GBP/USD trades below 1.3100 amid firmer USD, UK budget uncertainty

The GBP/USD pair struggles to capitalize on its gains registered over the past two days and kicks off the new week on a softer note amid a broadly firmer US Dollar (USD). Spot prices, however, manage to hold comfortably above last week's swing low and currently trade just below the 1.3100 mark, down less than 0.15% for the day.

The USD Index (DXY), which tracks the Greenback against a basket of currencies, sits near its highest level since late May amid less dovish Federal Reserve (Fed) expectations. In fact, chances for another rate cut by the US central bank in December reduced further following the delayed release of mostly upbeat US Nonfarm Payrolls (NFP) report for September. This offset concerns about the weakening economic momentum on the back of the longest-ever US government shutdown and continues to underpin the USD, and weighs on the GBP/USD pair. Read more...

GBP/USD Weekly Forecast: Pound Sterling appears ‘sell-on-bounce’ trade as UK Budget looms

The Pound Sterling (GBP) broke its previous week’s consolidation to the downside against the US Dollar (USD), as GBP/USD revisited levels below the 1.3100 threshold. The broad-based USD resurgence and increased concerns over the United Kingdom’s (UK) fiscal health emerged as the two main underlying themes during the week, driving the GBP/USD price action.

The Greenback garnered strength from receding interest rate cut bets for the US Federal Reserve (Fed) and worries about AI technology stock overvaluations. However, the former was the main catalyst. Markets preferred to hold the US currency in the lead-up to the quarterly earnings report from chipmaker giant Nvidia and the first US employment data release, following nearly two months without public data. 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.

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.