Pound Sterling Price News and Forecast: GBP/USD remains pressured around six-week low

FXStreet Team FXStreet

GBP/USD Price Analysis: Bears keep controls on the way to 1.3935

GBP/USD stays depressed around 1.3990 after dropping the most since April-end, not to forget testing early May levels, during the initial Asian session trading on Thursday. The cable pair’s Fed-led slump broke the three-month-old horizontal support around 1.4010-4000. The bearish sentiment also gains support from the downbeat MACD signals.

Sterling rises as rising UK inflation puts pressure on the BOE

The British pound rose on Wednesday after the relatively strong UK consumer price index (CPI) data. According to the Office of National Statistics (ONS), the country’s consumer inflation rose from 1.5% in April to 2.1% in May on a year-on-year basis. Similarly, the core CPI that excludes the volatile food and energy products, rose from 1.3% to 2.0%. This increase was mostly because of higher clothing and gasoline prices as the country continued to reopen. The data came a day after the ONS published a relatively strong unemployment rate and a few days ahead of the Bank of England decision.

EUR/USD seems fragile below 1.1700 as Middle East war boosts energy prices

The EUR/USD pair trades flat at around 1.1680 during the Asian trading session on Tuesday, but broadly seems vulnerable, being close to its five-week low. The major currency pair is under pressure as surging oil prices due to the United States-Israel war with Iran have increased the risks of higher inflation for the Old Continent.

GBP/USD hovers around 1.3400 with bearish pressure intact

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold sticks to gains above $5,350 amid sustained safe-haven demand; firmer USD caps gains

Gold sticks to its positive bias for the third straight day and trades above the $5,350 level heading into the European session on Tuesday. Concerns about a broader regional conflict in the Middle East continue to weigh on investors' sentiment and underpin demand for the traditional safe-haven bullion.

Stellar risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing on Tuesday, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

The market is not panicking it is repricing the probability distribution of Oil and time

At the end of the day, markets do not trade morality or geopolitics. They trade transmission channels. And the only channel that truly matters in this maelstrom runs through the price of energy and the time value of money.

Grass 20% bullish breakout defies broader market weakness

Grass (GRASS) is edging up above $0.30 at the time of writing on Monday. The token’s notable 20% intraday surge stands out amid heightened volatility in the broader crypto market.