Pound Sterling Price News and Forecast: GBP/USD tests immediate barrier at nine-day EMA at 1.2938

FXStreet Team FXStreet

GBP/USD Price Forecast: Tests nine-day EMA barrier near 1.2950 amid a bullish bias

The GBP/USD pair loses ground after registering gains in the previous two sessions, trading around 1.2930 during the Asian hours on Wednesday. The technical analysis of the daily chart indicates a continued bullish bias, with the pair consolidating within an ascending channel pattern.

The 14-day Relative Strength Index (RSI) is positioned above 50, reinforcing strong bullish momentum. However, the GBP/USD pair has broken below the nine-day Exponential Moving Average (EMA), suggesting a bearish shift in the short-term price momentum. Read more...

GBP/USD coils ahead of key UK CPI inflation print

GBP/USD continues to wear worry lines into the charts near the 1.3000 handle as Cable traders draw into the midrange after a near-term bullish recovery lost steam. The pair has yet to draw in a confirmed pullback, as both Pound Sterling and Greenback traders await firmer signs of economic health from either economy.

The US Conference Board (CB) reported a further increase in one-year consumer inflation expectations on Tuesday, now at 6.2% in March compared to 5.8% in February. Consumers continue to express significant concern regarding the persistently high prices of essential household items, such as eggs, along with worries about potential inflation consequences tied to tariffs from the Trump administration. Additionally, the CB’s consumer confidence survey for future economic expectations has dropped to a new 12-year low in March, recording a figure of 65.2, which is substantially below the 80.0 threshold that often indicates a potential recession. 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 moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.