Pound Sterling Price News and Forecast: GBP/USD struggles to attract buyers

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling struggles to attract buyers

GBP/USD stays on the back foot following Thursday's rebound and trades slightly below 1.3300 in the European session on Friday. The renewed US Dollar (USD) strength makes it difficult for the pair to hold its ground as investors remain focused on latest developments surrounding the US-China trade relations.

US President Donald Trump said late Thursday that a meeting between Chinese and US officials took place earlier in the day. During the Asian trading hours, Bloomberg reported that China was considering suspending its 125% tariff on some US imports, including medical equipment and ethane, and officials were having discussions about waiving tariffs on plane leases. Read more...

GBP/USD Forecast: Pound Sterling could push lower if 1.3250 support fails

GBP/USD extended its decline into a second consecutive day on Wednesday and registered its lowest daily close in a week near 1.3250. The pair holds its ground early Thursday and recovers toward 1.3300.

The disappointing Purchasing Managers Index (PMI) data from the UK, which showed a contraction in the private sector's business activity in April, caused Pound Sterling to weaken against its rivals during the European trading hours on Wednesday. Later in the day, the US Dollar (USD) benefited from heightened optimism about easing tensions between China and the US, causing the pair to stretch lower. 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 falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.