Pound Sterling Price News and Forecast: GBP/USD stable

FXStreet Team FXStreet

GBP/USD stable: Sentiment shifts in favour of Sterling

The GBP/USD pair held around 1.3430 USD on Thursday, with the pound strengthening yesterday following better-than-expected UK economic growth data. These figures may shape market expectations for Bank of England policy in the coming months.

Since the start of January, sterling has made limited headway against the US dollar but has strengthened notably against the euro. Dollar sentiment remains cautious due to geopolitical tensions involving Iran and Greenland, as well as renewed comments from President Donald Trump questioning the Federal Reserve's independence. Read more...

GBP/USD Elliott Wave: Chopping lower in temporary decline

Back on November 13, while trading at 1.3190, we forecasted a major low and large rally for GBP/USD that may extend to 1.48. Cable, so far, has reached a high of 1.3567 and the pattern we are following appears incomplete.

GBP/USD appears to have completed wave 2 at the 1.3010 low on November 5. We know from our Elliott wave studies that this suggests a wave 3 rally. Wave 3 tends to have a similar size or Fibonacci proportions to the wave 1, or 2025 rally. Read more...

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FXStreet Team

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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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.