Pound Sterling Price News and Forecast: GBP/USD – Outlook for GBP remains positive

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GBP/USD: Outlook for GBP remains positive – UOB Group

Strong momentum appears to be slowing; Pound Sterling (GBP) is likely to trade in a 1.2850/1.2925 range vs US Dollar (USD). In the longer run, outlook for GBP remains positive; the next technical target is at 1.2975, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

24-HOUR VIEW: "Following the strong rise in GBP two days ago, we indicated yesterday that 'although deeply overbought, GBP appears to have enough momentum to rise further.' We pointed out, 'The levels to monitor are 1.2930 and 1.2975.' However, GBP rose less than expected to 1.2924. It ended the day largely flat at 1.2882 (-0.09%). The strong upward momentum over the past few days appears to be slowing. Today, we expect GBP to trade in a 1.2850/1.2925 range." Read more...

GBP/USD Forecast: Pound Sterling remains overbought as focus shifts to key US data

After moving sideways on Thursday and the Asian session on Friday, GBP/USD regained its traction and touched a fresh multi-month high above 1.2900 in the European morning. The February employment report from the US could drive the pair's action heading into the weekend.

The risk-averse market atmosphere helped the US Dollar (USD) limit its losses and made it difficult for GBP/USD to extend its uptrend on Thursday. Early Friday, US stock index futures trade in positive territory and the USD Index, which tracks the USD's valuation against a basket of six major currencies, stays in the red below 104.00, allowing GBP/USD to stretch higher. Read more...

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EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.