Pound Sterling Price News and Forecast: GBP/USD rebound remains capped below 1.3800

FXStreet Team FXStreet

GBP/USD Forecast: Cable is not Kane, why sterling is unlikely to benefit from a rebound

Harry Kane has taken England's football team to its first final since 1966 – taking advantage of a rebound seconds after he missed a penalty kick. Can cable also rebound from its lows? That seems a tall order, and not only because some British traders are probably tired after the seminfal excitement.

Doubts about the UK's planned reopening on July 19 have refused to let go as COVID-19 cases, hospitalizations and deaths continue rising. There are 11 days for Prime Minister Boris Johnson to change his mind in response to the Delta variant's rapid spread. Read more...

GBP/USD Price Analysis: Rebound remains capped below 1.3800

GBP/USD is attempting a recovery amid broad risk-aversion, as the pound outperforms across the fx board so far this Thursday. The rebound in the cable from 1.3760 could be associated with fresh selling seen in the US dollar, as the relentless slide in the Treasury yields drags the greenback lower.

Resurgent covid concerns and its likely hit to the global economic turnaround continue to dampen the investors’ sentiment. However, the pound emerges the strongest amongst the lot amid Britain’s relative success in vaccinations. The UK boasts of the highest number of doses administered per 100 people across the world. Read more...

GBP/USD Forecast: COVID-19 woes, stronger USD favours bearish traders

The GBP/USD pair had some good two-way price moves on Wednesday and was influenced by a combination of diverging forces. Following the previous day's dramatic turnaround from the 1.3900 neighbourhood, the pair gained some positive traction amid the optimism over the imminent reopening of the UK economy. The UK Prime Minister Boris Johnson set out plans for the final step of easing lockdown on Monday and confirmed that all restrictive measures would be lifted on July 19. The supporting factor, to a larger extent, was offset by concerns about the spread of the highly contagious Delta variant of the coronavirus. Read more...

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EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.