Pound Sterling Price News and Forecast: GBP/USD may find initial support around 1.3250

FXStreet Team FXStreet

GBP/USD Price Forecast: Falls below 1.3350 due to prevailing bearish bias

The GBP/USD pair extends its losing streak for the fourth successive session, trading around 1.3340 during the Asian hours on Tuesday. The bearish bias prevails as the daily chart’s technical analysis suggests that the pair remains within the descending channel pattern.

The 14-day Relative Strength Index (RSI) remains below the 50 level, strengthening the bearish bias. However, the GBP/USD pair is positioned below the nine-day Exponential Moving Average (EMA), suggesting the short-term price momentum is weaker. Read more...

GBP/USD extends into a third day of losses amid wider Greenback recovery

GBP/USD caught another leg lower to start the new trading week, falling for a third straight session and tumbling back below the 1.3400 handle, hitting a ten-week low in the process. The US Dollar (USD) is rebounding across the board following months of weakness, kicking the Pound Sterling (GBP) below a key rising trendline.

The economic calendar is entirely clear of meaningful data releases on the United Kingdom (UK) side. However, Cable traders will have more than enough to keep them busy with a packed data docket on the American side of the Atlantic. Read more...

GBP/USD slips to 1.3401 as US–EU trade deal lifts Dollar ahead of Fed meeting

The GBP/USD drops 0.25% during the North American session after the United States (US) and the European Union (EU) reached a trade agreement before the August 1 deadline set by President Donald Trump. At the time of writing, the pair trades at 1.3401, near two-week lows.

The lack of economic data revealed during the European session, as well as in the US, left traders adrift to trade on news. The deal includes levies of 0% on some American goods, while EU goods imported to the US will pay 15% tariffs. Read more...

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