Pound Sterling Price News and Forecast: GBP/USD recovers above key technical level [Video]

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GBP/USD Forecast: Pound Sterling recovers above key technical level

After ending the previous week on a bearish note, GBP/USD gains traction and rises to the 1.2650 area in the European morning on Monday. Preliminary December Manufacturing and Services PMI data from the UK and the US will be watched closely by market participants.

The disappointing monthly Gross Domestic Product (GDP), Industrial and Manufacturing Production data from the UK caused Pound Sterling to come under renewed selling pressure on Friday. Early Monday, the improving risk sentiment helps GBP/USD edge higher. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The GBPUSD daily chart indicates a dominant bearish trend based on Elliott Wave analysis. The wave mode is impulsive, reflecting strong downward momentum in the market. The ongoing wave structure is Orange Wave 3, currently unfolding within Navy Blue Wave 3. This scenario supports a continued bearish outlook, with expectations of further price declines. Read more...

GBP/USD Weekly Forecast: Pound Sterling braces for volatility in final full week of 2024

It was a mixed week for GBP/USD traders. In the early part of the week, the Pound Sterling defended the previous week’s upswing only to surrender into persistent USD demand in the second half. A hawkish shift in the expectations of the US Federal Reserve’s (Fed) future interest rate path and the sustained advance in US Treasury bond yields kept the Greenback’s bullish undertone alive throughout the week.

At the start of the week, the US Dollar picked up fresh haven demand as renewed geopolitical tensions emerged in the Middle East and amid China’s economic worries. This stalled the GBP/USD recovery at 1.2800. The sudden collapse of Syria's government occurred over the weekend after Syrian rebels seized the capital, Damascus, ousting President Bashar al-Assad, who fled to Russia with his family seeking asylum. The toppling of Assad’s government ended a 13-year civil war and raised concerns over the political stability in the region. Read more...

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EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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