Pound Sterling Price News and Forecast: GBP/USD targets new multi-month highs on broad USD weakness

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling targets new multi-month highs on broad USD weakness

GBP/USD benefited from the broad-based selling pressure surrounding the US Dollar (USD) and gained about 1% on Monday. The pair continues to stretch higher in the European session on Tuesday and trades at its highest level since mid-December above 1.2700.

The USD weakened against its major rivals on Monday as the disappointing macroeconomic data releases from the US and US President Donald Trump's tariffs revived fears over an economic downturn in the US. Read more...

GBP/USD Forecast: Pound Sterling not out of the woods yet

GBP/USD registered daily losses on Thursday and Friday to end the previous week in negative territory. The pair holds steady at around 1.2600 in the European morning on Monday.

The broad-based US Dollar (USD) strength in the second half of last week caused GPB/USD to stretch lower. US President Donald Trump's confirmation of March 4th as the date for 25% tariffs on Canadian and Mexican imports, as well as an additional 10% tariff on Chinese goods, to go into effect, combined with his argument with Ukrainian President Volodymyr Zelenskyy in the Oval Office on Friday forced investors to stay away from risk-sensitive assets heading into the weekend. Read more...

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EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.