Pound Sterling Price News and Forecast: GBP/USD remains vulnerable on broad USD strength

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GBP/USD Forecast: Pound Sterling remains vulnerable on broad USD strength

After posting large losses on Thursday and Friday, GBP/USD struggles to stage a rebound on Monday and trades in negative territory, slightly above 1.3400. The pair's technical outlook suggests that the bearish bias remains intact in the short term.

The US Dollar (USD) outperforms its rivals as fears over an economic downturn in the United States (US) ease. The European Union (EU) and the US announced over the weekend that they have reached a framework trade deal that sets a blanket 15% tariff on goods traded between them. Additionally, European Commission President Ursula von der Leyen noted that they will not impose retaliatory tariffs and said they will invest $600 billion in the US on top of existing expenditures. Read more...

GBP/USD Weekly Outlook: Pound Sterling recovery loses momentum ahead of a big week

The Pound Sterling (GBP) staged a solid comeback from two-month lows against the US Dollar (USD) before GBP/USD buyers ran into the 1.3600 hurdle.

Despite its retracement in the second half of the week, the GBP/USD pair closed the week with gains as the USD registered its biggest weekly drop in a month. Read more...

GBP/USD outlook: Under increased downside pressure

Cable remains under increased pressure and heads south for the second straight day (down 1% in two days). Persistent weakness in Britain’s business activity, increasing pace of cutting jobs and growing concerns about government’s finances, weigh heavily on sterling.

Pound accelerated sharply lower after repeated failure at strong technical resistance at 1.3576 (daily Kijun-sen / 50% retracement of 1.3788/1.3364 drop) with penetration of rising daily Ichimoku cloud (1.3476 – cloud top, reinforced by daily Tenkan-sen / 50% retracement of 1.3364/1.3588 recovery leg), adding to growing negative signals from MA’s being in bearish setup and strengthening negative momentum. Read more...

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FXStreet Team

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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.

GBP/USD off highs, back to 1.3620

GBP/USD remains slightly on the defensive at the end of the week, receding to the low 1.3600s after hitting fresh tops past 1.3670 earlier in the day. Cable’s correction comes after two daily gains in a row and amid a tepid advance in the Greenback, while poor UK data also accompany the downside.

EUR/USD treads water below 1.1700

EUR/USD now trades with modest losses around 1.1670 following another unsuccessful atempt to advance past 1.1700 the figure in a convincing fashion. The pair’s decline follows a maginal rebound in the US Dollar as market participants continue to assess recent US data as well as developments from the US bond market.

Gold trims gains, recedes to the sub-$4,600 area

Gold rapidly leaves behind Thursday’s inconclusive price action and advances markedly on Friday, briefly surpassing the $4,600 mark per troy ounce to hit three-month peaks. Meanwhile, the precious metal’s solid performance comes despite marginal gains in the buck coupled with another day of rising US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflows

The cryptocurrency market remains bullish on Friday, led by Bitcoin’s surge above $77,000. Altcoins, including Ethereum and Ripple, mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.

Week ahead – Fed’s Jackson Hole and Nvidia earnings to dictate markets

Kevin Warsh to make his Jackson Hole debut amid confusing messaging. But a major hawkish surprise unlikely after bond market intervention. Nvidia earnings to also determine market direction as stock rally cools.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.