Pound Sterling Price News and Forecast: GBP/USD looks fragile after disappointing UK data

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling looks fragile after disappointing UK data

GBP/USD dropped below 1.3250 in the Asian session on Wednesday after posting daily losses on Tuesday. Although the pair staged a rebound afterward, disappointing Purchasing Managers Index (PMI) data from the UK limited the upside.

S&P Global/CIPS Composite PMI in the UK slumped to 48.2 in April's flash estimate from 51.5 in March, highlighting a contraction in the private sector's business activity. Read more...

GBP/USD outlook: Bulls face headwinds from key resistance but so far hold grip

Bulls show initial signs of fatigue on approach to key barrier at 1.3434 (2024 high of Sep 26) after repeated failure to hold gains above 1.3400 handle. Strongly overbought conditions on daily chart signal that the recent rally of eleven straight days might be running out of steam.

Dips were so far shallow and near term action still lacks correction signal (minimum requirement will be today’s close in red) as traders hesitate to take stronger profit-taking. Read more...

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FXStreet Team

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EUR/USD holds around 1.1750 after weak German and EU PMI data

EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. Weaker-than-expected December PMI data from Germany and the Eurozone make it difficult for the Euro to find demand, while investors refrain from taking large USD positions ahead of key employment data.

GBP/USD climbs above 1.3400 after upbeat UK PMI data

GBP/USD gains traction and trades in positive territory above 1.3400 on Tuesday as the British Pound benefits from upbeat PMI data. Later in the day, crucial data releases from the US, including Nonfarm Payrolls, Retail Sales and PMI, could trigger the next big action in the pair.

Gold retreats from seven week highs on profit-taking; all eyes on US NFP release

Gold price loses momentum below $4,300 during the early European trading hours on Tuesday, pressured by some profit-taking and weak long liquidation from the shorter-term futures traders. Furthermore, optimism around Ukraine peace talks could weigh on the safe-haven asset like Gold.

US Nonfarm Payrolls expected to point to cooling labor market in November

The United States Bureau of Labor Statistics will release the delayed Nonfarm Payrolls (NFP) data for October and November on Tuesday at 13:30 GMT. Economists expect Nonfarm Payrolls to rise by 40,000 in November. The Unemployment Rate is likely to remain unchanged at 4.4% during the same period.

NFP preview: Complex data release will determine if Fed was right to cut rates

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BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.