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

FXStreet Team FXStreet

GBP/USD Forecast: Sellers struggle to take control

GBP/USD turned south and fell over 0.5% on the day on Wednesday after reaching its highest level since March 2022 at 1.3266 on Tuesday. The pair finds it difficult to regain its traction early Thursday but it manages to limit its losses.

In the absence of high-tier data releases, the risk-averse market atmosphere helped the US Dollar (USD) gather strength on Wednesday, triggering an overdue correction in GBP/USD. The USD Index, which tracks the USD's performance against a basket of six major currencies, rose 0.5% on the day. Read more...

GBP/USD Elliott Wave technical analysis [Video]

The GBPUSD pair currently demonstrates a bullish trend, as identified through Elliott Wave analysis on the daily chart. The market is in an impulsive phase, reflecting a strong movement aligned with the broader trend. The main structure under observation is gray wave 1, indicating the initiation of a new wave sequence within the overarching trend.

The market’s present position is within orange wave 3, implying that the third wave of the orange degree is underway. This follows the conclusion of orange wave 2, which signals the end of the corrective phase and the continuation of the next impulsive wave. Read more...

GBP/USD Price Forecast: Battles key 1.3210 resistance on the road to recovery

GBP/USD is making a headway back toward the 29-month high set on Tuesday at 1.3266. The pair is helped by a renewed selling seen in the US Dollar even as risk-off flows dominate, in the aftermath of the disappointing guidance shared by the American AI titan, Nvidia.

The divergent monetary policy outlooks between the US Federal Reserve (Fed) and the Bank of England (BoE) also remain in favor of the GBP/USD uptrend. Read more...

Author

FXStreet Team

FXStreet

EUR/USD recovers some early losses driven by rising energy prices amid US-Iran war

The EUR/USD pair claws back some of its early losses during the late Asian trading session on Monday, but is still 0.25% down to near 1.1780. Earlier in the day, the Euro declined sharply against the US Dollar as investors shifted to the safe-haven fleet amid the brutal war between Iran, Israel, and the United States, which broke out over the weekend.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold looks further north as Iran war boosts haven demand

Gold is taking a breather after the initial run to over one-month highs near $5,400, kicking off the new week with a bang. A global flight to safety theme, following the US-Israel joint attacks on Iran over the weekend, bolstered the demand for the traditional store of value, Gold.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.