Pound Sterling Price News and Forecast: GBP/USD struggles at 1.3000, dives beneath 1.2950

FXStreet Team FXStreet

GBP/USD Price Analysis: Struggles at 1.3000, dives beneath 1.2950

The Pound Sterling begins the North American session on the backfoot and registers losses of 0.14% after failing to crack the 1.3000 figure. The lack of economic data from the United Kingdom boosted the Greenback, which was battered last week. The GBP/USD trades at 1.2946 after hitting a daily high of 1.2979. Read More...

Pound Sterling slumps after upbeat US Retail Sales report, focus is on UK Inflation

The Pound Sterling (GBP) falls sharply below the psychological figure of 1.3000 against the US Dollar (USD) in Tuesday’s New York session. The GBP/USD pair slumps as the United States (US) Retail Sales report for June shows better-than-expected sales receipts at retail stores. Monthly Retail Sales remained flat, as expected, from an upwardly revised reading of 0.3% in May. Read More...

GBP/USD maintains position around 1.2950 near 13-month highs

GBP/USD trades around 1.2960 during the Asian session on Tuesday, remaining close 13-month high at 1.2995 recorded in the previous session. The British Pound (GBP) may appreciate further as investors consider UK markets a more attractive investment destination compared to US markets, which face political uncertainties. The decisive victory of Keir Starmer’s Labour Party has assured stable fiscal policies and smooth ministerial appointments. Read More...

Author

FXStreet Team

FXStreet

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 extends slide below 1.1700

The EUR/USD pair nears its weekly low at around 1.1660 in the American session on Tuesday, retreating from the 1.1750 price zone tested earlier in the day. Cautiously optimistic markets support the US Dollar in the near term.

GBP/USD retreats from three-month-high, pierces 1.3500

GBP/USD extends its intraday slide and trades in the red just below 1.3500 after setting a new three-month-high near 1.3570. Ahead of this week's key employment data releases from the US, markets recover the good mood.

Gold extends its advance aims to recover hte $4,500 mark

Gold eases from the weekly high it set at $4,475 but clings to modest gains above $4,450 in the second half of the day on Tuesday. While a rebound in the US Dollar caps the yellow metal's upside, heightened political tensions allow XAU/USD to keep its footing.

Australia CPI likely to test RBA hawkishness

The Australian Bureau of Statistics will publish the Consumer Price Index data for November at 00:30 GMT on Wednesday. This is the second complete monthly CPI report, as the government continues to transition from the quarterly CPI to the monthly gauge as the primary measure of headline inflation.

Implications of US intervention in Venezuela

Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.

Cardano holds steady as bulls intensify push for breakout

Cardano rises above the 50-day EMA resistance amid a risk-on mood across the crypto market. The MACD upholds positive divergence, increasing the potential for a 20% breakout to $0.505.