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 slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.