Pound Sterling Price News and Forecast: GBP/USD rebounded, snapping a three-day losing streak

FXStreet Team FXStreet

GBP/USD clips three-day losing streak, bounces off key technicals

GBP/USD rebounded on Monday, snapping a three-day losing streak and chalking in a technical bounce from the 50-day Exponential Moving Average (EMA) as broad-market Greenback flows recede. Cable traders will face a double-header of Purchasing Managers Index (PMI) survey results on Tuesday, and business expectations are expected to take a slight hit on both sides of the Atlantic.

The UK’s Manufacturing PMI for September is forecast to hold steady at 47.0, but the Services PMI component is expected to backslide to 53.5 from 54.2. On the American side of the data docket, September’s PMI results are expected to retreat across the board, with the Manufacturing component set to decline sharply to 52.0 from 53.0. The US Services PMI survey is expected to show business sentiment contracted to 53.9 from 54.5. Read more...

GBP/USD rebounds as Dollar softens, but UK risks limit upside

The Pound Sterling (GBP) bounces off a two-week low of 1.3453 on Monday, yet bulls are not out of the woods, after the pair hit a two-month peak of 1.3726 last week before plunging following the Federal Reserve’s decision to reduce interest rates. GBP/USD trades at 1.3496, up 0.27%.

The Greenback depreciates during Monday’s session, as depicted by the US Dollar Index (DXY). The DXY, which tracks the performance of the buck’s value against a basket of six currencies, dives 0.18% at 97.47, providing a boost for most G10 FX currencies. Read more...

Author

FXStreet Team

FXStreet

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold clings to gains as US-Iran conflict continues to underpin safe-haven assets

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar could keep the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.