Pound Sterling Price News and Forecast GBP/USD: Pressure mounts on the pound

FXStreet Team FXStreet

GBP/USD Forecast: Freed from “Freedom Day” speculation, sterling could surge

Freedom Day, delayed – the Delta COVID-19 variant has been spreading quickly in Britain, causing the vast majority of over 7,000 infections per day. On this background, UK Prime Minister Boris Johnson is set to announce a four-week delay to the last stage of the reopening. July 19 is the new June 21, at least according to The Times. Read more...

GBP/USD Forecast: Pressure mounts on the pound

The GBP/USD pair fell to a fresh two-month low of 1.4069 amid expectations the UK government will delay the final stage of easing lockdown measures, from June 21 to July 19, to enable vaccine rollout. Prime Minister Boris Johnson addressed the nation and confirmed the new date. The pair trimmed losses and turned positive with Wall Street’s opening, ending the day just above the 1.4100 threshold. Read more...

GBP/USD Price Analysis: Bears testing bullish commitments at key support

GBP/USD bears take on the critical support area. Bulls could be encouraged by the development of the hourly H&S. GBP/USD has been pressured in recent trade and is now testing the critical short term support and psychological 1.41 level. However, the prospects of a near term downside continuation are limited by the potential reverse head and shoulders in the making on the hourly chart. Read more...

Author

FXStreet Team

FXStreet

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, tests $5,400

Gold benefits from intense risk-aversion on Monday and climbs to the $5,400 region, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin on brink of breakdown amid US-Iran war

Bitcoin (BTC) remains under pressure near the key support level of $65,700. Trading at $66,400 at the time of writing on Monday, a breakdown below this critical level would suggest a deeper correction ahead.

The week ahead: Conflict in the Middle East jolts markets

Events in the Middle East are obviously dominating financial markets this morning. The Brent crude oil price is extending gains and is higher by more than 8%, stock futures are pointing lower and the gold price is higher by more than 2%.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.