Pound Sterling Price News and Forecast: GBP/USD stays on the front foot inside a bullish chart pattern

FXStreet Team FXStreet

GBP/USD Price Analysis: Pokes fortnight-old hurdle below 1.2050 inside falling wedge

GBP/USD buyers attack a two-week-old resistance line while extending the previous day’s run-up to Friday’s Asian session. That said, the Cable pair picks up bids to 1.2030 after rising the most in nearly three weeks. In doing so, the quote remains inside a two-month-long falling wedge bullish chart pattern.

GBP/USD outlook: Bears are pausing but need sustained break above 1.20 to generate a reversal signal

Cable bounces on Thursday and probes levels above 1.20, after regaining traction on UK political news. The top news of the day was a resignation of British Prime Minister Boris Johnson, who decided to step down after most of the ministers from his cabinet already resigned.

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold moves closer to $5,150 amid sustained safe-haven flows

Gold climbs back above $5,100 during the Asian session on Wednesday, moving away from an over one-week low, touched the previous day. Sustained safe-haven flow, amid escalating geopolitical tensions in the Middle East, acts as a tailwind for the bullion. However, a bullish US Dollar and reduced bets for more aggressive easing by the US Fed might keep a lid on the non-yielding yellow metal ahead of the US ADP report and ISM Services PMI later today.