Pound Sterling Price News and Forecast: GBP/USD snaps two-day downtrend

FXStreet Team FXStreet

GBP/USD Price Analysis: Licks wounds near 11-week low with limited upside potential

GBP/USD consolidates the biggest weekly loss since November around 1.3235-40 during Monday’s Asian session. The pair dropped to the lowest levels in 11 weeks by the end of Friday but oversold RSI triggered the cable pair’s corrective pullback. However, a downward sloping trend line from February 23 and the 10-DMA, respectively around 1.3315 and 1.3355, test the rebound.

BP/USD Weekly Forecast: Downside remains compelling amid Russia-Ukraine war

GBP/USD accelerated its downside momentum in a busy Nonfarm Payrolls week, having reached the lowest level in three months below mid-1.3200s. Risk-aversion remained the underlying market theme, as Russian aggression in Ukraine failed to subside, despite two rounds of ‘peace talks’. Stagflation risks amid soaring oil prices will likely keep cable undermined in a relatively light week ahead, as investors remain on edge due to the ongoing Ukraine crisis.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD keeps range near 1.1750 ahead of German/ EU PMI data

EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. The pair's volatility remains low, with investors awaiting a bunch of top-tier economic data releases from Germany, Eurozone and the US. The immediate focus is on the German and Eurozone preliminary PMI data.

When is the UK labor market report and how could it affect GBP/USD?

The UK Office for National Statistics will publish its labor market report at 07.00 GMT. GBP/USD trades in negative territory on the day in the lead up to the UK employment data. The pair loses ground as traders turn cautious ahead of the key US economic data, including Nonfarm Payrolls, Retail Sales, and Purchasing Managers Index.

Gold bulls move to the sidelines ahead of delayed US NFP report

Gold attracts some sellers during the Asian session on Tuesday and extends the overnight pullback from the $4,350 region, or the vicinity of the highest level since October 21, touched last week. The intraday downtick comes amid optimism over the Russia-Ukraine peace deal, which is seen undermining demand for the traditional safe-haven commodity.

Sui Price Forecast: Sui slips below $1.50 as network demand and risk appetite wane

Sui remains under intense bearish pressure, extending losses by 1% at press time on Tuesday for the third straight day.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.