Pound Sterling Price News and Forecast: GBP/USD moves little as traders adopt caution

FXStreet Team FXStreet

GBP/USD steadies around 1.2500, downside risks appear due to dovish mood surrounding BoE

GBP/USD halts its three-day winning streak, trading around 1.2490 during the Asian hours on Thursday. The Pound Sterling (GBP) could face downward pressure amid expectations that the Bank of England (BoE) will resume its policy-easing cycle, likely lowering interest rates by 25 basis points (bps) to 4.5% later in the day.

The BoE’s Monetary Policy Committee (MPC) is anticipated to vote 8-1 in favor of a quarter-point rate cut to 4.5%, with one member possibly suggesting that rates should be left unchanged for another meeting. Read more...

GBP/USD cautiously bullish ahead of BoE rate call

GBP/USD found some bidding action amid a broad-market easing in the Greenback. Market sentiment is drifting into the high end as investors recover from the early week’s trade war fears, and Cable traders are buckling down for the wait to the Bank of England’s (BoE) latest rate call.

US ADP Employment Change figures came in stronger than expected in January, showing a net increase of 183K in payrolls, beating the expected fall to 150K from December’s revised print of 176K. ADP job figures are a shaky forecast of US Nonfarm Payrolls (NFP) due at the end of the week, but the upswing is adding to investor confidence that the US economy remains on firm footing. Read more...

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FXStreet Team

FXStreet

EUR/USD: Breakdown below trading range support near 1.1770 comes into play

The EUR/USD pair opens with a bearish gap at the start of a new week as the US-Iran war-led global flight to safety boosts the US Dollar. Spot prices, however, lack follow-through selling and manage to hold above mid-1.1700s during the Asian session.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold jumps over 2% toward $5,400 after US, Israel attack Iran

Gold is on fire at the start of the week, a widely expected move, as investors seek harbor in the traditional store of value, following the continued US and Israel attacks on Iran. The bright metal opened with a bullish gap of about $17 and rallied toward the $5,400 level as Asian traders hit their desks and reacted negatively to the weekend news of the Middle East conflict, rushing for cover in Gold.

Top Crypto Losers: Tezos, Toncoin, and Polkadot at crucial levels amid US-Israel strike on Iran

Altcoins such as Tezos, Toncoin, and Polkadot rank among the worst hit cryptocurrencies over the last 24 hours amid the US and Israel's attack on Iran. Tezos and Toncoin are down to crucial support levels while Polkadot remains near a crucial resistance trendline, showcasing underlying strength.

Crisis in the Middle East: The market reaction

Geopolitics and events between Iran, the US and the wider Middle East will dominate financial markets on Monday. The situation has continued to escalate as we move through Sunday. Bombing has continued across the UAE and into Iraq, the US has confirmed the deaths of several US servicemen, and a US sanctioned oil tanker has been hit in Oman.

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.