Pound Sterling Price News and Forecast: GBP/USD's weekly H&S pattern targets 1.2980 on the long-term

FXStreet Team FXStreet

GBP/USD eyeing whipsaw above $1.35

Sterling remains on the back foot, down 1.4 percent on the week.

Supply-turned demand at $1.3629-1.3456 had its lower edge breached yesterday, action confirming bearish intent following the close below a double-top pattern’s ($1.4241) neckline at $1.3669. The double-top pattern’s profit objective—measured by taking the distance between the highest peak to the neckline and extending this value lower from the neckline—sits around $1.3093.

GBP/USD Price Analysis: A weekly head-and-shoulders pattern targets 1.2980 on the long-term

The GBP/USD is trading at 1.3464, down 0.02% as the Asian session begins. The market sentiment is downbeat. Asian futures look tilted to the downside, except for the Hang-Seng and the Nikkei 225, gaining between 0.32% and 0.03%, respectively.

Weekly chart

The chart depicts a head-and-shoulders pattern, which at press time, is trading below the neckline (pink line), around 1.3464.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.