Pound Sterling Price News and Forecast: GBP/USD may face initial resistance at the two-month high

FXStreet Team FXStreet

GBP/USD Price Forecast: Eyes nine-day EMA support near 1.3500

GBP/USD steadies for the second successive day, trading around 1.3530 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bullish bias as the pair moves sideways within the ascending channel pattern.

The GBP/USD pair holds a constructive bullish bias as it remains above both the nine-day and 50-day Exponential Moving Averages (EMAs). This alignment of short- and medium-term EMAs below the spot suggests ongoing upside control. Meanwhile, the 14-day Relative Strength Index near 58 stays in positive territory without yet signaling overbought conditions, hinting that buyers still retain the initiative. Read more...

GBP/USD treads water ahead of Fed and BoE rate double-header

GBP/USD ended Monday largely unchanged from Friday's closing bids close to 1.3535, with the pair drifting in a tight range through the European and US sessions. Price tagged a session high near 1.3575 in early dealing before fading back to the 1.3535 area, where small-bodied candles and overlapping bodies pointed to indecision. The pair is consolidating near the upper end of an April recovery that began from the 1.3160 area, with markets reluctant to commit ahead of this week's central bank double-header.

The Fed and the Bank of England (BoE) both deliver rate decisions this week, a back-to-back setup that effectively sets the tone for the pair through May. The Federal Open Market Committee (FOMC) is widely expected to hold the federal funds rate at 3.50% to 3.75% on Wednesday in Chair Jerome Powell's final meeting before his term expires May 15. April brings no Summary of Economic Projections, leaving the statement and press conference to do the work amid March headline inflation at a two-year high of 3.3% and Q4 2025 Gross Domestic Product (GDP) revised to just 0.5%. The Senate Banking Committee is also scheduled to vote on Kevin Warsh's nomination as Powell's successor on Wednesday, layering leadership-transition risk on top of the policy event. Thursday's advance Q1 GDP read (consensus 2.2%), Core Personal Consumption Expenditures (PCE) print (forecast 3.2% YoY), and Friday's ISM Manufacturing Purchasing Managers Index (PMI) round out a packed US data calendar. Read more...

GBP/USD edges up as stalled Iran talks keep markets on edge

GBP/USD registers modest gains during the North American session on Monday, up by 0.19%, as US-Iran talks stalled, while market mood remains fragile, as reflected in US equity markets trading lower. The pair trades at 1.3548, after bouncing off daily lows of 1.3506.

The economic schedule on both sides of the Atlantic will be busy. On Tuesday, the Federal Reserve (Fed) begins its two-day monetary policy meeting, in which policymakers are expected to keep interest rates unchanged as they digest the impact of high energy prices sparked by the Middle East conflict. Eyes will also be on Fed Chair Jerome Powell’s decision to stay at the US central bank or to resign once Kevin Warsh is approved to succeed him. Read more...

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USD/JPY stays below 160.50 as markets assess BoJ decision

USD/JPY fluctuates in a relatively narrow range above 160.00 on Tuesday as markets assess the Bank of Japan's (BoJ) decision to raise the policy rate by 25 at the June meeting. Meanwhile, investors keep a close eye on news coming out of the Middle East, while preparing for the critical Fed meeting.

AUD/USD trades in tight channel near 0.7050 despite hawkish RBA message

AUD/USD trades modestly lower on the day at around 0.7050 on Tuesday as markets adopt a cautious stance amid a lack of details surrounding the US-Iran peace agreement. The Reserve Bank of Australia (RBA) left the door open for possible policy tightening after leaving the interest rate unchanged, as expected, at the June meeting but failed to boost the Australian Dollar.

Gold trims gains, approaches $4,300

Gold now surrenders part of its initial advance and recedes to the vicinity of the $4,350 mark per troy ounce on Tuesday. The early enthusiasm sparked by the US-Iran peace deal has faded somewhat, prompting investors to adopt a more prudent stance as they await further details of the agreement and key guidance from the Fed.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it.

BoJ just hiked and US-Iran deal is on the table: Why Japanese Yen is still around 160.00

The Bank of Japan lifted interest rates from 0.75% to 1.00%, its highest level in more than three decades. The landmark move aims to stabilize a sharply weakening Japanese Yen, but by looking at the immediate market reaction, it doesn’t look like it’s going to work.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.