Pound Sterling Price News and Forecast: GBP/USD pares recent gains inside a bearish chart pattern

FXStreet Team FXStreet

GBP/USD Price Analysis: Retreats towards 1.2450 inside rising wedge, UK Retail Sales eyed

GBP/USD struggles to keep Thursday’s stellar gains inside a rising wedge bearish formation, despite staying on the way to post the first weekly gains in five. That said, the cable pair eases to 1.2475 while stepping back from the wedge’s upper line during the early Friday morning in Asia.

GBP/USD: Don’t get too comfy with recent gains

GBP/USD look headed for its first weekly gain in four weeks moving into late Thursday trading. At the time of writing, the pair was trading up by 2.03% at 1.25089, supported by a broadly weaker US dollar. But a stronger pound this week didn’t relate to any major positive news about the UK economy. On the contrary, economic data from the UK has been a relative disappointment.

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EUR/USD keeps range near 1.1750 ahead of German/ EU PMI data

EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. The pair's volatility remains low, with investors awaiting a bunch of top-tier economic data releases from Germany, Eurozone and the US. The immediate focus is on the German and Eurozone preliminary PMI data.

GBP/USD holds steady below 1.3400 after mixed UK labor data

GBP/USD is trading around a flat line below 1.3400 in the European session on Tuesday. The UK ILO Unemployment Rate rose to 5.1% in the quarter to October, meeting expectations, while the pay growth cooled down sligthly in the same period, doing little to affect the Pound Sterling.

Gold bulls move to the sidelines ahead of delayed US NFP report

Gold attracts some sellers during the Asian session on Tuesday and extends the overnight pullback from the $4,350 region, or the vicinity of the highest level since October 21, touched last week. The intraday downtick comes amid optimism over the Russia-Ukraine peace deal, which is seen undermining demand for the traditional safe-haven commodity.

Sui Price Forecast: Sui slips below $1.50 as network demand and risk appetite wane

Sui remains under intense bearish pressure, extending losses by 1% at press time on Tuesday for the third straight day.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.