Pound Sterling Price News and Forecast: GBP/USD poised to lose the 1.3500 level

FXStreet Team FXStreet

GBP/USD Price Analysis: Monday’s bullish pin bar keeps buyers hopeful

GBP/USD picks up bids around 1.3590 amid the initial Asian trading session on Tuesday. In doing so, the Cable justifies its bounce off 21-day SMA and a bullish pin bar candlestick pattern on the daily (1D) chart.

With the normal RSI conditions joining the aforementioned price-positive catalysts, GBP/USD is for regaining its status above the 1.3600 mark. However, there are multiple upside barriers near 1.3660 that test the bulls afterward.

GBP/USD Forecast: Poised to lose the 1.3500 level

The GBP/USD pair is ending the day little changed in the 1.3580 price zone but fell to a fresh one-week low of 1.3519. Weekend news related to more travel restrictions in the UK due to the coronavirus pandemic and the absence of relevant local data pushed the pound lower. On a positive note, the UK plans to speed up vaccination. Nadhim Zahawi, the Minister for COVID Vaccine Deployment, said that everyone in the UK would be offered a vaccine by September.

AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

AUD/USD regains traction and extends the bounce toward 0.6950 in the Asian session on Friday. Fed Chair Warsh's comments reinforce the selling pressure on the US Dollar, allowing the pair to stretch higher. Warsh said that he remains committed to delivering price stability without giving away anything on future interest rate path.

USD/JPY falls in symc with USD, gives up 158.00 after Warsh's speech

USD/JPY has come under fresh selling pressure and gives up 158.00 in the Asian session on Friday amid the emergence of fresh US Dollar selling. Fed Chair Warsh's non-committal commentary on the future tightening path, weighs on the US Dollar and the pair.

$4,200: Back in sight for Gold after Warsh’s silence on interest rate outlook

Gold is looking to build on its recent recovery, reverting toward $4,200 in the early European hours, as traders digest US Fed Kevin Warsh’s neutral remarks delivered at the Fireside Chat with International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Bangkok.

Bitcoin holds $80,500; Ethereum rebounds, Ripple weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) show mixed price action on Friday, with BTC and ETH holding above key support levels while XRP struggles below key resistance. Meanwhile, sticky inflation figures have dampened risk appetite, and momentum indicators for these top three cryptocurrencies have also weakened, signaling a risk of a deeper correction if key support fails to hold.

US midterms put fiscal policy under the spotlight, treasury sell-off raises risk

The US will hold its midterm elections - a de facto referendum on the Trump administration - on 3rd November after two years shaped by rising trade protectionism, attacks on Federal Reserve independence and, since the spring, the Iran war. Republicans are expected to take a heavy electoral hit.

Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.