Pound Sterling Price News and Forecast: GBP/USD refreshes multi-month highs

FXStreet Team FXStreet

GBP/USD fills week-start gap-down towards regaining 1.3700 amid mixed clues

GBP/USD probes an intraday high of 1.3665 while filling the downside gap to 1.3650 during the early Asian session on Monday. In doing so, the cable traders remain cautiously optimistic following a Brexit deal passage by the UK’s Parliament as the coronavirus (COVID-19) woes probe bulls.

Despite overcoming the thorny issue of Brexit and getting it through the parliament, the Britons aren’t spared from the divorce issues. Recently, The Telegraph came out with the news suggesting British ex-pats stopped from boarding to Spain amid documentations issues.

GBP/USD Price Analysis: Cable refreshes multi-month highs

GBP/USD is trading at 1.3690 at press time. That's the highest level since April 2018. The previous 31-month high of 1.3686 was reached last week.

The inverse head-and-shoulders breakout seen on the weekly chart indicates the path of least resistance is to the higher side, and significant resistance is currently located at 1.4056.

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.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.