Pound Sterling Price News and Forecast: GBP/USD remains confined in a familiar range

FXStreet Team FXStreet

GBP/USD consolidates below one-year top, looks to UK CPI for fresh directional impetus

The GBP/USD pair extends its sideways consolidative price move for the third successive day on Wednesday and trades around the 1.2970 region during the Asian session. Spot prices, meanwhile, remain well within the striking distance of a one-year peak touched on Monday and the fundamental backdrop supports prospects for an extension of a two-week-old uptrend.

The US Dollar (USD) draws some support from the upbeat US Retail Sales data released on Tuesday, which pointed to consumer resilience and bolstered economic growth prospects for the second quarter. This, in turn, is seen as a key factor acting as a headwind for the GBP/USD pair as traders keenly await the crucial UK consumer inflation figures before positioning for the next leg of a directional move. Read more...

GBP/USD churns ahead of key UK CPI inflation data

GBP/USD churned close to recent highs on Tuesday as markets readjusted odds of a rate cut from the Federal Reserve (Fed). A decline in US Retail Sales capped off a recent batch of US data, implying price pressures have finally eased enough that the Fed may get pushed into a rate-cutting cycle in September.

US Retail Sales slumped to a flat 0.0% in June, matching forecasts and falling from the previous month’s revised 0.3%. Softening US Retail Sales was the final feather in the cap for rate-cut-hungry markets, which piled into bets of a rate cut when the Federal Open Market Committee (FOMC) gathers for its rate call on September 18. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD eyes 0.7150 barrier nine-day EMA

AUD/USD inches higher after registering modest losses in the previous day, trading around 0.7130 during the Asian hours. The technical analysis of the daily chart indicates that the pair is moving sideways within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.

USD/JPY trades below 160.00 intervention threshold; bullish bias intact

The USD/JPY pair attracts some sellers during the Asian session amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, the Israel-Lebanon truce prompts some profit-taking around the US Dollar and exerts downward pressure on the currency pair.

Gold puts its 200-day SMA to the test near $4,420

Gold keeps the bullish stance in place in the latter part of Thursday’s session, although a convincing break above the key $4,500 mark per troy ounce still remains elusive. The precious metal’s advance comes amid the resurgence of some selling interest around the Greenback, improving risk sentiment, and declining US Treasury yields across the board.

Bitcoin’s massive storm is back: Why the sell-off is far from over

Bitcoin price action over the last few weeks has felt less like a normal, healthy correction and more like a slow grinding crash that continues to wreak havoc on holdings and trading accounts. And everything suggests that the dramatic crash isn’t over.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.