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 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.