Pound Sterling Price News and Forecast: GBP/USD posts modest gains around 1.2770

FXStreet Team FXStreet

GBP/USD Price Analysis: Holds below 1.2800, bearish bias remains intact

The GBP/USD pair trades with mild losses near 1.2770 during the Asian trading hours on Tuesday. The modest recovery of the US Dollar (USD) helps limit the pair’s losses after retracing to 1.2710 in the previous session.

According to the 4-hour chart, the major pair keeps the bearish vibe unchanged, with the price holding below the key 100-period Exponential Moving Average (EMA). The downward momentum is also supported by the Relative Strength Index (RSI) which stands below the 50-midline near 44.0, supporting the sellers for the time being. Read more...

GBP/USD falters on uneasy market flows but holds in midrange

GBP/USD kicked off the new trading week with a fresh plunge on Monday, falling into familiar lows just north of 1.2700 before recovering ground to end the day close to where it started just below the 1.2800 handle. Markets reversed course and piled into the Greenback in early trading after more US data came in below expectations, hardening broad-market bets of an accelerated pace of rate cuts from the Federal Reserve (Fed) through the rest of the year.

According to the CME’s FedWatch Tool, rate markets are pricing in nearly 85% odds of a double-cut from the Fed on September 18th for 50 basis points after US data took a turn on Friday and further mixed prints on Monday. The rest of the trading week offers a light affair on the economic data docket, giving markets some breathing room and some time to chew on current positioning. Read more...

GBP/USD Price Analysis: Slips below 1.2800 amid market turmoil

The Pound Sterling edges lower after trimming some of its earlier losses due to a bloodbath in the financial markets, led by Asian equities, which triggered circuit breakers halting trading as losses deepened. The GBP/USD trades at 1.2772, down by 0.20%.

Last Friday, the GBP/USD seemed poised to test higher prices, but due to risk aversion and investors seeking safety, the Cable was under pressure during the Asian and European sessions. Read more...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD trades around 1.1700 after rebounding from 50-day EMA

EUR/USD gains ground after three days of losses, trading around 1.1700 during the Asian hours on Wednesday. On the daily chart, technical analysis indicates a potential for a bearish bias; the 14-day Relative Strength Index at 47 confirms waning momentum.

GBP/USD climbs above 1.3500 as US Dollar weakens ahead of ISM Services PMI

GBP/USD gains some ground after registering modest gains in the previous session, trading around 1.3510 during the Asian hours on Wednesday. The pair edges higher as the US Dollar struggles ahead of the US ISM Services Purchasing Managers’ Index and JOLTs job openings due later in the day.

Gold pulls back from $4,500 amid profit-taking ahead of key US macro data

Gold struggles to capitalize on its strong weekly gains registered over the past two days and faces rejection near the $4,500 psychological mark, or over a one-week high touched during the Asian session on Wednesday. As investors digest the recent US attack on Venezuela, the prevalent risk-on environment prompts some profit-taking around the commodity.

Bitcoin, Ethereum and Ripple cool off as rally stalls near key resistance zones

Bitcoin, Ethereum, and Ripple prices are taking a breather on Wednesday near their key resistance levels following the recent surge. BTC faces rejection at the $94,253 level, while ETH and XRP follow BTC’s footsteps, struggling near $3,308 and $2.35, respectively.

Implications of US intervention in Venezuela

Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.

Cardano holds steady as bulls intensify push for breakout

Cardano rises above the 50-day EMA resistance amid a risk-on mood across the crypto market. The MACD upholds positive divergence, increasing the potential for a 20% breakout to $0.505.