Pound Sterling Price News and Forecast: GBP/USD struggles to capitalize on intraday uptick

FXStreet Team FXStreet

GBP/USD Price Forecast: Hovers around 1.2400; seems vulnerable while below 50-day SMA

The GBP/USD pair rebounds a few pips from the Asian session low and currently trades around the 1.2400 round-figure mark, nearly unchanged for the day. The upside, however, remains capped in the wake of a modest US Dollar (USD) strength, which, in turn, warrants some caution for bullish traders.

US President Donald Trump's fresh tariff threats boost demand for the traditional safe-haven Greenback. Meanwhile, the upbeat US employment details released on Friday, along with expectations that Trump's protectionist policies would reignite inflation, should allow the Federal Reserve (Fed) to hold rates steady and lend additional support to the USD. Apart from this, the Bank of England's (BoE) gloomy outlook should contribute to capping the GBP/USD pair. Read more...

GBP/USD holds below 1.2400 on firmer US Dollar

The GBP/USD pair weakens to near 1.239 during the Asian trading hours on Monday. The US Dollar climbs after US President Donald Trump promised reciprocal tariffs. The release of the US Consumer Price Index (CPI) for January will take center stage later on Wednesday.

Trump said on Friday that he would announce reciprocal tariffs on Tuesday or Wednesday on countries that tax US imports, with them going into effect 'almost immediately'. Read more...

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