Pound Sterling Price News and Forecast: GBP/USD directionless mode extends, awaiting fresh signal

FXStreet Team FXStreet

GBP/USD bears keep reins under 1.2200 with eyes on BOE’s Bailey, Fed’s Powell

GBP/USD dribbles around the weekly low of 1.2180, after declining the most over a week, as sellers take a breather ahead of the key data/events. However, pessimism surrounding Brexit, economic slowdown and inflation woes keep the downside bias intact. US Core PCE, Final reading of Q1 GDP may entertain traders ahead of key discussions at the ECB Forum.

GBP/USD

Overview
Today last price	1.2203
Today Daily Change	0.0020
Today Daily Change %	0.16
Today daily open	1.2183

Trends
Daily SMA20	1.2335
Daily SMA50	1.245
Daily SMA100	1.2845
Daily SMA200	1.3177

Levels
Previous Daily High	1.2292
Previous Daily Low	1.2181
Previous Weekly High	1.2324
Previous Weekly Low	1.2161
Previous Monthly High	1.2667
Previous Monthly Low	1.2155
Daily Fibonacci 38.2%	1.2223
Daily Fibonacci 61.8%	1.2249
Daily Pivot Point S1	1.2145
Daily Pivot Point S2	1.2107
Daily Pivot Point S3	1.2034
Daily Pivot Point R1	1.2257
Daily Pivot Point R2	1.233
Daily Pivot Point R3	1.2368

GBP/USD outlook: Directionless mode extends, awaiting fresh signal

Cable enters the US session on Monday in red after short-lived rally, inspired by renewed risk mode, pushed the price to a ten-day high in early European trading. The price remains within the range which extends into sixth consecutive day, defining near-term price action as directionless, capped by daily Kijun-sen and supported by daily Tenkan-sen, after the action repeatedly failed to register a clear break on either side.

EUR/USD looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold sticks to intraday gains above $5,150; upside seems limited amid bullish USD

Gold preserves its modest intraday gains through the Asian session on Wednesday and currently trades just above the $5,150 level, up around 1.30% for the day. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

Bitcoin, Ethereum and Ripple struggle for direction as consolidation persists

Bitcoin, Ethereum and Ripple prices trade with a cautious tone at the time of writing on Wednesday as upside momentum continues to fade across the broader crypto market. BTC remains within a parallel channel, ETH struggles below key resistance, while XRP remains fragile within a descending channel. These top three cryptocurrencies by market capitalization continue to struggle to establish a directional bias amid the consolidation phase.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.