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...

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EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.