Pound Sterling Price News and Forecast: GBP/USD pressuring a four-month high

FXStreet Team FXStreet

GBP/USD Price Analysis: Battles 1.2900 following pullback from monthly rising channel’s resistance

GBP/USD recedes to 1.2925 during Wednesday’s Asian session. The pair refreshed the highest since March 13 the previous day but the upper line of an ascending trend channel from June 25 tamed the quote’s further upside amid overbought RSI conditions.

Considering this, the sellers are currently targeting the weekly support line, near 1.2850/45, as immediate rest ahead of revisiting July 21 top near 1.2770 and the mid-June top close to 1.2690.

GBP/USD Forecast: Pressuring a four-month high

The Sterling continued to benefit from the broad dollar’s weakness, with GBP/USD reaching 1.2952, its highest in four months. The UK currency found additional support in the July CBI Distributive Trade Survey on realized sales unexpectedly jumped to 4% from -37% and largely surpassing the expected -25%. , CBI Chief Economist, Rain Newton-Smith, however, warned that “the re-opening of non-essential retail was a vital step towards recovery but isn’t a cure-all,” as he added that for some businesses, the picture “remains bleak.”

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.