Pound Sterling Price News and Forecast: GBP/USD potential target at 1.3940 [Video]

FXStreet Team FXStreet

GBP/USD breaks nearby resistance, but a stronger rally needed [Video]

GBPUSD is gaining momentum within the 1.3800 area and above the red Tenkan-sen line, which kept the bulls under control over the past few weeks, marking its third consecutive green day. The technical indicators endorse the ramping positive traction in the price. The RSI has bottomed in the oversold area and is set to print a new higher high, while the Stochastics is also making its way above its 20 oversold levels. Read more...

GBP/USD analysis: Potential target at 1.3940

The British Pound edged higher by 43 pips or 0.31% against the US Dollar on Monday. The currency pair breached the 200– hour simple moving average at 1.3859 during Monday's trading session.

Given that the 55-, 100– and 200– hour SMAs are below the current price level, bullish traders are likely to continue to pressure the exchange rate higher during the following trading session. The potential target for the GBP/USD pair will be near the weekly R1 at 1.3940. Read more...

GBP/USD Forecast: Why Freedom Day enthusiasm could make way for a free-fall

If not now, when? That has been the gist of Prime Minister Boris Johnson's message when announcing that "Freedom Day" will arrive on July 19. England will ditch hundreds of COVID-19-related restrictions and reopen its economy in what has also been dubbed the "Big Bang." Sterling has cheered in response.

Will this enthusiasm last? Johnson's announcement came just as Britain reported over 27,000 coronavirus cases in one day and as hospitalizations creep up. Health Secretary Sajid Javid warned that infections could hit 100,000 daily by mid-summer, and according to calculations by expert Neil Ferguson, that could result 15,000 extra deaths until year-end. Read more...

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FXStreet Team

FXStreet

EUR/USD flirts with three-day lows near 1.1570

EUR/USD resumes its march south on Thursday, revisting the 1.1570 region, or three-day lows, ahead of the opening bell in Asia. The intense sell-off in the pair comes in response to the solid performance of the US Dollar amid the still unresolved crisis in the Middle East. Moving forward, investors are expected to shift their focus to the release of the US NFP on Friday.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

XRP rises as crypto market steadies despite Middle East war

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.