Pound Sterling Price News and Forecast: GBP/USD remains stronger despite BoE rate cut bets

FXStreet Team FXStreet

Pound Sterling remains stronger despite BoE rate cut bets

GBP/USD remains in the positive territory for the fifth consecutive day, trading around 1.3560 during the early European hours on Thursday. The pair holds ground as the US Dollar (USD) struggles amid ongoing uncertainty over the White House’s economic policies.

US President Donald Trump said in his State of the Union (SOTU) address on Tuesday that the US economy is rebounding, defended tariffs as growth-supportive and criticized the Supreme Court for striking down part of his tariff policy. Read more...

GBP/USD outlook: Recovery attempts remain capped for the third straight day

Cable edged higher on Wednesday and retests the ceiling of near-term range in which the price holds for the third straight day.
Double-Doji candle (Mon/Tue) with longer upper shadows points to indecision, as technical studies remain mixed.

Rising daily Ichimoku cloud (spanned between 1.3428 and 1.3302) underpins, while diverging daily Tenkan/Kijun-sen after creating a bear-cross, pressure. Read more...

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EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.