Pound Sterling Price News and Forecast: GBP/USD tests key resistance, eyes on BoE

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling tests key resistance, eyes on BoE

GBP/USD holds its ground and trades above 1.3350 after posting strong gains on Wednesday. Investors stay on the sidelines while waiting for the Bank of England (BoE) to announce monetary policy decisions.

The renewed selling pressure surrounding the US Dollar (USD) allowed GBP/USD to gather bullish momentum on Wednesday. US President Donald Trump's renewed tariff threats revived concerns over the US economic outlook and weighed on the USD. Read more...

Pound under pressure ahead of Bank of England meeting

The GBP/USD pair climbed to 1.3355 on Thursday as markets braced for today’s Bank of England (BoE) meeting. Traders are closely watching two key factors: the voting split among Monetary Policy Committee (MPC) members and any signals regarding future rate moves.

The central bank is widely expected to cut interest rates by 25 basis points (bps) to 4.00%. However, there is speculation that some members, such as Swati Dingra or Alan Taylor, could push for a more aggressive 50 bps reduction, as seen in May. Should this occur, particularly if accompanied by a shift away from the BoE’s usual cautious tone, the pound could come under significant selling pressure. Read more...

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EUR/USD remains heavy near 1.1600 after hot EU inflation data

EUR/USD remains heavily offered near 1.1600, six-week lows, in the European session on Tuesday. The pair fails to find any inspiration from a surprise pick up in Eurozone inflation for February, as the US Dollar continues to attract safe haven flows amid escalating geopolitical tensions in the Middle East.

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold falls below $5,300 as stronger USD counter Middle East woes

Gold attracts some intraday selling and falls below $5,300 on Tuesday. The US Dollar climbs to a fresh high since January 20 and turns out to be a key factor exerting downward pressure on the commodity. However, concerns about a broader regional conflict in the Middle East continue to weigh on investors' sentiment and underpin demand for the traditional safe-haven bullion.

Stellar risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing on Tuesday, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

Middle East conflict ramps up a gear as energy price spike rips through markets

It’s another risk off day as geopolitical headwinds continue to batter financial markets. Although markets calmed during the US session and US stocks managed to post gains on Monday, this has not fed through to the European session, and stocks and bonds are sharply lower for a second day.

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.