Pound Sterling Price News and Forecast: GBP/USD reaches 1.3800 level

FXStreet Team FXStreet

GBP/USD Forecast: Dominant dollar sends sterling below critical support, levels

A new month, a fresh blow to sterling – Markit's UK Manufacturing Purchasing Managers' Index for June has been downgraded to 64.9 points from the original read of 64.2, adding to already existing pressure on the pound.

The greater worry is the ongoing spread of the Delta variant of coronavirus, which may still derail the already delayed reopening due on July 19 – and could have a further negative impact later in the year. Britain's vaccination efforts – which drastically decrease severe disease – continue at full speed, but the tide has yet to turn in the number of infections. Read more...

GBP/USD analysis: Reaches 1.3800 level

The decline of the GBP/USD has reached the 1.3800 level, which provided support for a retracement back up to the 1.3840 level. During the early hours of Thursday's trading, the pair fluctuated between the mentioned levels.

In the near term future, the rate could either trade sideways between the mentioned levels or make a move up or down. Read more...

GBP/USD outlook: Bears accelerate on dovish comments from BoE's Governor Bailey

Cable continues to travel south for the sixth straight day and hit 11-week low on Thursday after dovish tone from BoE Governor Bailey’s speech accelerated bears.

Fresh weakness broke through pivotal support at 1.3786 (June 21 low) completing failure swing pattern on daily chart and signaling continuation of larger downtrend from 1.4249 (2021 high of June 1). Read more...

Author

FXStreet Team

FXStreet

EUR/USD rebounds from session lows, stays below 1.1650

EUR/USD is recovers modestly from session lows but remains in the red below 1.1650 in European trading on Thursday. The pair faces headwinds from a renewed uptick in the US Dollar amid a negative shift in risk sentiment. Surging energy prices due to the Middle East war keep the bearish pressure intact on the Euro. The US Jobless Claims data are next of note.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD sticks to losses near 1.3350 in the European session on Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh havem demand ahead of the US Jobless Claims data.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Three reasons to be bearish on Bitcoin

Bitcoin is holding up well taking into account the uncertainty stemming from the Middle East. Despite this week’s rally, the long-term outlook remains bearish. Here are three reasons why I think the storm for the largest cryptocurrency isn't over yet.

Markets attempt to rally on positive news from Iran

There’s been an abrupt change in sentiment this morning, European stock markets are higher and oil and gas prices are moderating, after comments from Iran’s deputy minister about pre-conflict talks between Iran and the US.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.