Pound Sterling Price News and Forecast: GBP/USD rises to near 1.3345 amid favors on riskier assets

FXStreet Team FXStreet

GBP/USD Price Forecast: Snaps three-day losing streak as market sentiment improves

The GBP/USD pair snaps its three-day losing streak on Friday, trading 0.1% higher to near 1.3345 during the Asian trading session. The Cable rises as the market sentiment turns favorable for riskier assets, following United States (US) President Donald Trump’s extended pause on scheduled attacks on Iranian power plants until April 6, which boosts hopes of de-escalation in conflicts in the Middle East.

As of writing, S&P 500 futures trade 0.3% higher to near 6,500, indicating an improvement in investors’ risk appetite. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades flat near a three-day high of around 100.00. Read more...

GBP/USD drifts lower as Iran oil shock clouds the BoE rate outlook

GBP/USD slipped about 0.1% on Thursday, settling around 1.3340 in a choppy session. The pair has been trading in a roughly 200-pip range between 1.3230 and 1.3430 for most of March, with a series of lower highs since the late-January peak close to 1.3820 pointing to a gradual loss of upside momentum. Thursday's candle showed a brief spike lower toward 1.3310 during the US session before buyers stepped in to recover some ground.

The Bank of England (BoE) held Bank Rate at 3.75% at its March 19 meeting in a unanimous vote, a stark shift from the 5-4 split in February when a cut had been a realistic prospect. The war in the Middle East and the effective closure of the Strait of Hormuz have transformed the UK rate outlook; markets that had been pricing in two cuts before the conflict are now expecting rates to hold for the rest of 2026 or even rise. The BoE warned that Consumer Price Index (CPI) inflation, which held at 3% in February, could climb to 3.5% in the coming quarters as energy costs feed through. Read more...

GBP/JPY Price Forecast: Stalls at 213.00 as bearish flag looms

The GBP/JPY consolidates around 213.00 for the second straight day, losses 0.09%, snapping a four-day streak of consecutive gains as traders clash with key resistance at the March 11 peak at 213.31. The technical picture shows GBP/JPY trading within the 211.00-213.00 range over the last 9 days, range-bound amid the lack of a clear catalyst. Additionally, it remains within a bearish flag, which, if confirmed, could open the door for further downside.

Momentum, as measured by the Relative Strength Index (RSI), is bullish, but the slope is trending lower, indicating neither buyers nor sellers are in charge. For a bullish continuation, the GBP/JPY must clear the top of the range at 213.00. Once surpassed, the next stop would be the year-to-date (YTD) high at 215.00. Read more...

Author

FXStreet Team

FXStreet

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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.