Pound Sterling Price News and Forecast: GBP/USD sets trading range before next breakout

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling sets trading range before next breakout

GBP/USD managed to rebound from the multi-day low it set early Thursday and ended the day with small gains. The pair struggles to gather directional momentum early Friday and trades in a narrow band below 1.3500.

The US Dollar (USD) failed to preserve its strength on Thursday as the Court of Appeals for the Federal Circuit decided to reinstate US President Donald Trump's reciprocal tariffs, which were blocked by the Court of International Trade on Wednesday. Read more...

GBP/USD Forecast: Pound Sterling could extend slide if 1.3380-1.3370 support fails

After closing the second consecutive day in negative territory on Wednesday, GBP/USD extended its slide in the Asian session on Thursday and touched its lowest level in six days below 1.3420. The pair staged a rebound in the early European session and was last seen trading little changed on the day above 1.3450.

The improving sentiment around the United States (US) economic outlook boosted the US Dollar and caused GBP/USD to stretch lower. Read more...

Author

FXStreet Team

FXStreet

EUR/USD revisits 1.1780, or daily lows

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to reach daily troughs on Thursday. The pair’s decline comes in response to a sudden bout of USD strength amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD makes a U-turn, challenges 1.3500

GBP/USD rapidly leaves behind Wednesday’s strong advance, putting the 1.3500 support to the test on Thursday. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold sticks to the bid bias, flirts with $5,200

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The precious metal adds to Wednesday’s optimism despite the Greenback trades in a firm fashion, although geopolitical tensions in the Middle East keep the yellow metal bid for now.