Pound Sterling Price News and Forecast: GBP/USD steep decline extends through key support zone

FXStreet Team FXStreet

GBP/USD outlook: Steep decline extends through key support zone

Cable extends steep fall into fourth straight day and probes through key supports at 1.3140 zone (Fibo 38.2% of 1.2099/1.3788 rally / former higher base, consisting of May 11 and July 27 lows), hitting the lowest levels since mid-April.

Stronger dollar after Fed’s hawkish cut and fresh signals that BOE rate cut next week cannot be ruled out (against wide expectations to stay on hold), keep sterling under increased pressure. Read more...

Pound Sterling extends losing streak against US Dollar for fourth trading day

The Pound Sterling (GBP) extends its losing streak against the US Dollar (USD) for the fourth trading day on Friday. The GBP/USD pair trades near its fresh over six-month low of 1.3116 posted on Thursday. The Cable has been under pressure due to a strengthening US Dollar amid easing Federal Reserve (Fed) dovish speculation for the December policy meeting and optimism on a trade deal between the United States (US) and China.

At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades firmly near an almost three-month high around 99.70 posted on Thursday. Read more...

Author

FXStreet Team

FXStreet

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.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY approaches 158.00 as Japanese Yen resumes decline

USD/JPY is resuming its upside in the European session on Friday, refreshing two-week highs and nearing 158.00. The Japanese Yen extends losses, despite the Bank of Japan's (BoJ) expected rate hike to 1.25% and hawkish Governor Ueda's comments, as two surprise dissents against the rate hike weigh on it.

Gold keeps the bid tone in place; still below $4,400

Gold adds to the optimism seen in the second half of the week, trading with decent gains just below the $4,400 mark per troy ounce on Friday. The precious metal’s advance finds traction in declining crude oil prices and fresh selling pressure on the US Dollar.

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

BoJ Recap: Not as hawkish as expected

The BoJ raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks. Governor Kazuo Ueda said the policy phase had changed.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.