Pound Sterling Price News and Forecast: GBP/USD tumbles as weak set of UK labor data boosts BoE dovish bets

FXStreet Team FXStreet

Pound Sterling tumbles as weak set of UK labor market data boosts BoE dovish bets

The Pound Sterling (GBP) faces a sharp selling pressure against its peers on Tuesday after the United Kingdom (UK) Office for National Statistics (ONS) reported that the labor market cooled down in three months ending April.Read More...

UK Unemployment Rate climbs to 4.6% in the quarter to April as expected

The United Kingdom’s (UK) ILO Unemployment increased to 4.6% in the three months to April after reporting 4.5% in the quarter to March, data published by the Office for National Statistics (ONS) showed on Tuesday.Read More...

GBP/USD Price Forecast: Hovers around 1.3550, support appears near nine-day EMA

The GBP/USD pair retraces its recent gains, trading around 1.3540 during Asian hours on Tuesday. The technical analysis of the daily chart indicates a persistent bullish bias as the pair moves upwards within an ascending channel pattern.Read More...

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EUR/USD recovers above 1.1600 as focus shifts to US data

EUR/USD stages a modest rebound and trades in positive territory above 1.1600 in the European session on Wednesday. Improving risk sentiment makes it difficult for the US Dollar to preserve its strength and helps the pair edge higher as focus shifts to key US data releases.

GBP/USD climbs above 1.3350 on improving risk mood

GBP/USD gains traction and advances toward 1.3400 on Wednesday. Although there are no headlines pointing to a de-escalation in the Middle East conflict, the modest recovery seen in US stock index futures limit the USD's gains and help the pair hold its ground.

Gold rebounds toward $5,200 as USD retreats

Gold maintains its offered tone through European session on Wednesday and climbs to the $5,200 region. The downward correction seen in the US Dollar and the ongoing crsis in the Middle East seem to be allowing XAU/USD to preserve its recovery momentum.