Pound Sterling Price News and Forecast: GBP/USD sellers look to retain control [Video]

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GBP/USD Forecast: Pound Sterling sellers look to retain control

After losing more than 0.3% on Monday, GBP/USD staged a rebound early Tuesday but failed to gather momentum. The pair stays in a consolidation phase slightly above 1.3600 in the European session.

The cautious market mood helped the US Dollar (USD) gather strength at the beginning of the week and caused GBP/USD to push lower. Although the White House announced that the deadline for the implementation of tariffs will be pushed to August 1, safe-haven flows dominated the action as the letters sent out by US President Donald Trump to trading partners showed that Japan and South Korea were to face 25% tariffs. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The GBP/USD daily chart indicates a bullish trend based on Elliott Wave principles. Price action is impulsive, forming orange wave 3 within the broader navy blue wave 5. This structure points to continued upward movement, though a correction in orange wave 4 is expected next.

With orange wave 2 behind us, the pair is progressing through orange wave 3, showing strong bullish momentum. The structure’s impulsive nature indicates solid directional movement. The invalidation level is set at 1.33486 — a drop below this would invalidate the current wave count and imply a shift in market trend. Read more...

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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 off highs, back to 1.3620

GBP/USD remains slightly on the defensive at the end of the week, receding to the low 1.3600s after hitting fresh tops past 1.3670 earlier in the day. Cable’s correction comes after two daily gains in a row and amid a tepid advance in the Greenback, while poor UK data also accompany the downside.

EUR/USD treads water below 1.1700

EUR/USD now trades with modest losses around 1.1670 following another unsuccessful atempt to advance past 1.1700 the figure in a convincing fashion. The pair’s decline follows a maginal rebound in the US Dollar as market participants continue to assess recent US data as well as developments from the US bond market.

Gold trims gains, recedes to the sub-$4,600 area

Gold rapidly leaves behind Thursday’s inconclusive price action and advances markedly on Friday, briefly surpassing the $4,600 mark per troy ounce to hit three-month peaks. Meanwhile, the precious metal’s solid performance comes despite marginal gains in the buck coupled with another day of rising US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflows

The cryptocurrency market remains bullish on Friday, led by Bitcoin’s surge above $77,000. Altcoins, including Ethereum and Ripple, mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.

Week ahead – Fed’s Jackson Hole and Nvidia earnings to dictate markets

Kevin Warsh to make his Jackson Hole debut amid confusing messaging. But a major hawkish surprise unlikely after bond market intervention. Nvidia earnings to also determine market direction as stock rally cools.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.