Pound Sterling Price News and Forecast: GBP/USD tests resistance at 1.4189

FXStreet Team FXStreet

GBP/USD technical analysis: Lingers around 1.41 as positive forces dry up

GBPUSD is tiptoeing across the 1.4095 level, which happens to be the 150.0% Fibonacci extension of the down leg from 1.3200 until 1.1410, after multiple attempts in the pair failed to defeat the 1.4236 peak from February 24. Nonetheless, the bullish simple moving averages (SMAs) are safeguarding the uptrend.

The currently idle Ichimoku lines are demonstrating a loss of positive impetus; however, they are retaining a slight tilt to the upside. Additionally, the short-term oscillators are mirroring the minor dwindling in the pair around the red Tenkan-sen line but are also suggesting upside powers have yet to fully subside. Read more...

GBP/USD analysis: Tests resistance at 1.4189

On Monday, the GBP/USD exchange rate surged by 73 pips or 0.52%. The currency pair tested the upper line of an ascending channel pattern during yesterday's trading session. The British Pound is likely to continue to climb against the US Dollar during the following trading session. The possible target for bullish traders will be near the 1.4220 level.

However, the resistance level at 1.4189 could still provide resistance for the currency exchange rate within this session. Read more...

GBP/USD Forecast: Three reasons to expect sterling to stumble

Cable is at the crossroads – where will it go from here? After several sluggish sessions of range trading, there are three reasons to expect a slide in GBP/USD.

Concerns about the Delta variant of COVID-19 have been mounting for several weeks. This strain, first identified in India, is thought to be 40% more transmissible than the already fast-spreading Alpha, or Kent variant. Moreover, according to new studies, it may cause a wider variety of symptoms. Read more...

Author

FXStreet Team

FXStreet

EUR/USD seems fragile below 1.1700 as Middle East war boosts energy prices

The EUR/USD pair trades flat at around 1.1680 during the Asian trading session on Tuesday, but broadly seems vulnerable, being close to its five-week low. The major currency pair is under pressure as surging oil prices due to the United States-Israel war with Iran have increased the risks of higher inflation for the Old Continent.

GBP/USD hovers around 1.3400 with bearish pressure intact

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold sticks to gains above $5,350 amid sustained safe-haven demand; firmer USD caps gains

Gold sticks to its positive bias for the third straight day and trades above the $5,350 level heading into the European session on Tuesday. 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.

The market is not panicking it is repricing the probability distribution of Oil and time

At the end of the day, markets do not trade morality or geopolitics. They trade transmission channels. And the only channel that truly matters in this maelstrom runs through the price of energy and the time value of money.

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.