Pound Sterling Price News and Forecast: GBP/USD pulls back as solid US data revives the Greenback

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British Pound pulls back as solid US data revives the Greenback

The Pound Sterling trims some of its Wednesday gains versus the US Dollar, down by over 0.48% following solid US data. The sell-off comes amid risk aversion and augments the safe-haven appeal of the Greenback. At the time of writing, the GBP/USD trades at 1.3375, after peaking near 1.3545. Read More...

British Pound remains muted as UK monthly GDP rises 0.1%, as expected

The British Pound (GBP) remains almost muted against its major currency peers after the release of the monthly United Kingdom (UK) Gross Domestic Product (GDP) data for May. The Office for National Statistics (ONS) has reported that the economy expanded 0.1%, as expected, after contracting at a similar pace in April. Read More...

British Pound weakens below 1.3550 on renewed US strikes on Iran

The GBP/USD pair declines to near 1.3530 during the early Asian session on Thursday. The British Pound (GBP) weakens against the US Dollar (USD) as renewed conflict and shipping disruptions in the Strait of Hormuz have reignited energy-driven inflation risks. Traders brace for the UK monthly Gross Domestic Product (GDP) report and the US Retail Sales data, which are due later on Thursday. Read More...

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FXStreet Team

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD bounces off over one-week low; upside potential seems limited

The GBP/USD pair edges higher at the start of a new week, reversing a part of Friday's heavy losses to over a one-week trough. Spot prices, however, lack bullish conviction and trade below mid-1.3500s during the Asian session, warranting caution before confirming that the recent pullback from the highest level since February has run its course.

EUR/USD edges higher to near 1.1600 ahead of German CPI inflation release

The EUR/USD pair gathers strength to around 1.1590 during the early Asian trading hours. The US Dollar edges lower against the Euro despite hawkish remarks from Federal Reserve Chair Kevin Warsh. Traders will take more cues from the preliminary reading of Consumer Price Index inflation data from Germany, which is due later on Monday.

Gold battles key support amid renewed Iran and Fed hike risks

Gold is resuming Friday’s steep downside early Monday as the NFP week kicks in. US Dollar sees a profit-taking pullback, despite hawkish Fed’s Warsh and fresh Iran risks. Gold attacks 21-day SMA near $4,400 after Friday’s close below 200-day SMA; RSI is still bullish.

Solana: Strong institutional confidence keeps SOL afloat above $100

Solana price is trading around $100 testing the psychological support level after a 3% decline the previous day. SOL-focused Exchange Traded Funds recorded over $150 million in inflows last week, reflecting strong institutional demand. Solana risks capitulation as price tests the $100 threshold amid easing bullish momentum.

Iran’s IRGC claims it shot down US drone, attacked UAE air base

Iran’s Islamic Revolutionary Guard Corps (IRGC) shot down a US MQ-9 drone over the Strait of Hormuz using air defense missiles, causing it to crash into Gulf waters, Mehr news agency reported on Monday.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.