Pound Sterling Price News and Forecast: GBP/USD bull run pauses ahead of FOMC meeting

FXStreet Team FXStreet

GBP/USD Price Analysis: Rises back above the 1.2200 mark, supported by 50-DMA

GBP/USD's bull run stalls at a long-ended descending trendline originating from the 1.3768 mark on a daily timeframe. This bullish surge is driven by broad-based US Dollar weakness amid falling US Treasury yields. Additionally, increasing expectations for the Bank of England (BoE) to pause at their upcoming meeting also support the bullish momentum for Cable.

With the bullish bias intact, a convincing break above the trendline could propel the pair toward the twice-tested 2023 high. Downside declines are likely to be limited by the 50-Day Moving Average (DMA), situated below the previous day's low at around the 1.2146 level. A convincing break below this level would likely lead the pair to confront the 21-DMA at the 1.2016 level. Read more...

GBP/USD resists welcoming bears above 1.2200, UK inflation, Brexit vote and Fed eyed

GBP/USD stays defensive around 1.2220-10 as the Cable bears struggle to keep the reins after entering the ring for the first time in four days. Also challenging the quote could be the market’s cautious mood ahead of the key data/events as the Federal Reserve (Fed) decision data begins.

The Cable pair’s latest losses could be linked to the improvement in the market’s sentiment and a rebound in the US Treasury bond yields that allowed the US Dollar to pro recent south-run at the five-week low. Read more...

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FXStreet Team

FXStreet

EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.