Pound Sterling Price News and Forecast: GBP/USD retains its bullish potential

FXStreet Team FXStreet

GBP/USD Price Analysis: Extends bounce off 200-HMA towards 1.3700

GBP/USD rises to 1.3688, up 0.06% intraday, during Monday’s Asian session. In doing so, the cable keeps Friday’s U-turn from 200-hour moving average (HMA) amid the bullish MACD.

With this, GBP/USD is up for breaking the 1.3700 immediate hurdle whereas Thursday’s high, also the highest since May 2018, around 1.3750, will lure the buyers afterward. During the quote’s sustained rise past-1.3750, April 2018 low near 1.3965 will be the key for GBP/USD bulls.

GBP/USD Forecast: Coronavirus-related concerns limit pound’s bullish potential

The GBP/USD pair retreated on Friday but was able to close the week with gains at 1.3680. The pound was hit by poor UK data, as December Retail Sales were up a modest 0.3% MoM, well below the 1.2% expected. When compared to a year earlier, sales grew 2.9% missing expectations of 4%. Additionally, Public Sector Net Borrowing in the same month increased by more than anticipated to £33.375 billion.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.