Pound Sterling Price News and Forecast: GBP/USD loses traction on mixed BoE commentary [Video]

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GBP/USD Forecast: Pound Sterling loses traction on mixed BoE commentary

Following Monday's rally, GBP/USD loses traction and declines toward 1.3500 in the European session on Tuesday. The technical outlook points to a loss of bullish momentum as investors await US data.

While testifying on the Monetary Policy Report before the UK Treasury Select Committee on Tuesday, Bank of England (BoE) Governor Andrew Bailey noted that they have not seen particular inflation surprises and reiterated that he prefers a gradual and careful approach to policy-easing. Read more...

GBP/USD takes a breather before next bullish move

GBP/USD has eased slightly below May’s three-year high of 1.3592, but Monday’s solid rebound has renewed optimism that the bulls are still in control.

For further upside momentum, the price needs a decisive close above the resistance line from July 2023 at 1.3597, which capped gains last week. A breakout above the key constraining zone of 1.3658 could trigger a more exciting rally toward the 2022 peak at 1.3747. Beyond that, attention could shift to the ascending trendline around 1.3865. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The daily chart presents a bullish outlook for GBP/USD, highlighting strong impulsive movement in the current wave pattern. The analysis indicates the formation of orange wave one as part of a larger bullish trend, situated within navy blue wave three. This implies the completion of navy blue wave two’s corrective phase and the start of a new impulse, marking the early phase of a potentially extensive upward trend. Read more...

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The GBP/USD pair builds on Friday's modest bounce from a three-week low and gains strong follow-through positive traction at the start of a new week. This marks the second straight day of a positive move and lifts spot prices above mid-1.3300s during the Asian session amid a broadly weaker US Dollar.

EUR/USD climbs beyond 1.1400 as renewed Iran diplomacy hopes undermine safe-haven USD

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