Pound Sterling Price News and Forecast: GBP/USD pauses after sell-off on Middle East crisis

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GBP/USD pauses after sell-off on Middle East crisis inspired USD haven demand

GBP/USD stalls and seesaws between tepid gains and losses in the 1.3280s on Wednesday after falling a whole cent on the previous day, when the US Dollar (USD) strengthened as a result of a rise in safe-haven flows due to an escalation of the conflict in the Middle East.

Despite recent losses, the GBP/USD is in an overall uptrend, which has seen it gain almost 5.0% from the early August lows. Read more...

GBP/USD Forecast: Pound Sterling could stretch lower in case 1.3250 support fails

GBP/USD turned south on Tuesday and lost nearly 0.7% on a daily basis. The pair edges higher toward 1.3300 in the European session on Wednesday but the technical outlook is yet to highlight a buildup of recovery momentum.

Following a bullish start to the week, the US Dollar (USD) continued to gather strength on Tuesday, forcing GBP/USD to push lower. The risk-averse market atmosphere amid escalating geopolitical tensions helped the USD outperform its rivals. Meanwhile, the US Bureau of Labor Statistics reported that the number of job openings on the last business day of August stood at 8.04, up from 7.71 million in July and above the market expectation of 7.65 million, further supporting the USD. Read more...

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FXStreet Team

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD hits multi-week tops around 1.3560

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Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

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Weekly focus: Some relief in US inflation concerns

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Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.