Pound Sterling Price News and Forecast: GBP/USD rises above 1.2800 amid weak US data fueling rate cut hopes

FXStreet Team FXStreet

GBP/USD Price Analysis: Rises above 1.2800 amid weak US data fueling rate cut hopes

The Pound Sterling rallied sharply against the US Dollar after recent economic data from the United States (US) sparked speculation that the US Federal Reserve might cut interest rates faster than expected. The GBP/USD trades at 1.2833 after hitting a daily low of 1.2707. Read More...

GBP/USD bounces back strongly above 1.2800 as US NFP disappoints

The GBP/USD pair recovers at a strong pace from an intraday low of 1.2707 above the round-level resistance of 1.2800 in Friday’s New York session. The Cable discovers strong buying interest on disappointing United States (US) Nonfarm Payrolls (NFP) data for July, which boosts already firm speculation of Federal Reserve (Fed) September interest rate cuts. Read More...

GBP/USD depreciates toward 1.2700 due to increased risk-off mood, BoE rate cut

GBP/USD extends its losses following the Bank of England‘s (BoE) decision to deliver a broadly expected 25-basis point rate cut at its August meeting held on Thursday. The GBP/USD pair trades around 1.2720 during the Asian session on Friday. Read More...

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EUR/USD remains weak near 1.1800

EUR/USD remains on the back foot on Thursday, trading close to the 1.1800 support ahead of the opening bell in Asia. The pair’s pullback comes amid further gains in the Greenback, while investors keep assessing the ECB’s decision to leave its policy rates unchanged

GBP/USD falls to new lows near 1.3530

GBP/USD extends Wednesday’s pullback on Thursday, easing lower towards two week lows around the 1.3530 area. Ongoing strength in the Greenback and the dovish hold from the BoE at its earlier meeting are keeping demand for the British Pound on the defensive for now.

Gold fails to sustain gains above $5,000 for third consecutive day

Gold is back under pressure on Thursday, slipping back towards the $4,800 region per troy ounce. A firmer US Dollar is weighing on the yellow metal, even as the broader mood remains risk off. That said, falling US Treasury yields across the curve are helping to cushion the downside and, for now at least, are limiting the depth of the pullback.

Strategy's Bitcoin treasury in focus as MSTR crashes alongside crypto market

Strategy (MSTR), the largest corporate holder of Bitcoin (BTC), is in focus ahead of its earnings call on Thursday amid an intensifying crypto market sell-off. Also caught in the headwinds is the MSTR stock, trading at $114 at the time of writing, down over 12% intraday.

The AI mirror just turned on tech and nobody likes the reflection

Tech just got hit with a different kind of selloff. Not the usual rates tantrum, not a recession whisper, not even an earnings miss in the classic sense. This was the market staring into an AI mirror and recoiling at its reflection.

Breaking: Bitcoin slips below $70,000 as falling knife scenario in play

Bitcoin (BTC) price dips below $70,000 on Thursday, having corrected nearly 20% for this year. Market momentum turned extremely bearish, with technical indicators pointing to further downside toward the next key support at $65,000.