Pound Sterling Price News and Forecast: GBP/USD sees fresh downside below 1.3300

FXStreet Team FXStreet

GBP/USD Price Forecast: Sees fresh downside below 1.3300 amid geopolitical risks

The GBP/USD pair claws back its significant early losses during the European trading session on Monday, but is still 0.6% down to near 1.3400. The pair is still under pressure as the Pound Sterling (GBP) underperforms due to risk-off market sentiment amid the war between the United States (US), Israel, and Iran.

S&P 500 futures plunged almost 1% ahead of the US markets' opening, showing depressed appetite for risky assets. At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.6% higher to near 98.20. Read more...

GBP/USD Weekly Forecast: Pound tests 1.3450 support ahead of key US jobs data

The Pound Sterling (GBP) entered a bearish consolidation phase against the US Dollar (USD), after having tested critical support near the 1.3450 level on several occasions.

GBP/USD hovered close to the monthly lows of 1.3434 reached a week ago, closing almost unchanged on a weekly basis. The listless performance in the major could be attributed to the USD’s subdued trading action and a largely risk-averse market environment. Read more...

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EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.