Pound Sterling Price News and Forecast: GBP/USD reached a key level of resistance structure

FXStreet Team FXStreet

GBP/USD Price Analysis: Testing strong resistance area, bears waiting to fade

GBP/USD has reached a key level of resistance structure. The distribution perceived as the next thing to come from GBP could lead to a 4HR swing trading opportunity. The price action has been monitored since the following article was published: GBP/USD Price Analysis: Bears lurking at weekly and daily resistances, as expected, as evidently illustrated below in the previous charts, cable was expected to climb to test the resistance.

GBP/USD Forecast: Brexit brought relief to Pound bulls

The GBP/USD pair neared the 1.3000 figure, soaring on reports the UK offered tentative concessions on fisheries in trade talks with the EU, one of the main issues blocking negotiations in the last months. The market ignored UK mixed inflation-related data, although August annual CPI improved to 0.2%. The Producer Price index in the same period, however, fell 0.9%, while the Retail Price index increased 0.5% against the 0.6% expected and the previous 1.6%.

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, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, 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, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

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.