Pound Sterling Price News and Forecast: GBP/USD struggles to remain above 1.2800, falls

FXStreet Team FXStreet

GBP/USD Price Analysis: Struggles to remain above 1.2800, falls

The GBP/USD experienced a retreat early in the North American session, down by 0.23%. This was a continuation of a trend, as the major trades below 1.2800 at around 1.2769 were unable to achieve a daily close above 1.2800 for the ninth consecutive trading day. Read More...

Pound Sterling finds cushion below 1.2800 after soft US PPI report

The Pound Sterling (GBP) finds support below the crucial support of 1.2800 against the US Dollar (USD) in Thursday’s American session. The GBP/USD pair finds cushion after the United States (US) Bureau of Labor Statistics (BLS) reported a cooler US Producer Price Index (PPI) report for May, which has prompted expectations of the Federal Reserve (Fed) returning to policy normalization from the September meeting. Market speculation for Fed rate cuts grew sharply on Wednesday too after the release of the cooler-than-expected Consumer Price Index (CPI) report for May. Read More...

GBP/USD Price Analysis: Remains depressed below 1.2800, downside potential seems limited

The GBP/USD pair edges lower during the Asian session on Thursday and retreats further from over a three-month top, around the 1.2860 region touched the previous day, in reaction to softer US consumer inflation figures. Spot prices, for now, seem to have snapped a three-day winning streak and currently trade around the 1.2785 area, down 0.10% for the day. 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.

GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

EUR/USD trims losses, back above 1.1500

EUR/USD picks up some pace and bouces off earlier lows, reclaiming the 1.1500 threshold and beyond at the end of the week. The pair’s modest pullback follows a persistent risk-averse market mood and renewed buying interest for the US Dollar.

Gold: The $4,000 mark holds the downside for now

Gold faces renewed selling pressure, falling sharply toweard the $4,000 mark per troy ounce as the US Dollar regains momentum. Escalating US-Iran tensions are keeping inflation concerns and expectations of further Fed rate hikes alive, weighing further on the yellow metal.

Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

Warsh needs to restore his reputation

We were glad to see our deeply negative reaction to the Warsh press conference was not some personal peculiarity. Just about everybody in the financial press felt the same way. The consensus is building it’s not the Fed in the dog-house but only Warsh. Today the WSJ changed it tune and blasted Warsh—"the honeymoon is already over..”

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.