Pound Sterling Price News and Forecast: GBPUSD picks up bids to refresh intraday high

FXStreet Team FXStreet

GBP/USD Price Analysis: Bulls approach 1.2435 hurdle amid five-day uptrend

GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week uptrend. That said, the Cable pair renews its intraday high near 1.2410 while rising for the fifth consecutive day as of late. In doing so, the quote extends the previous day’s rebound from the 21-SMA, around 1.2350 by the press time.

GBP/USD Weekly Forecast: Pound Sterling could see continuation of the uptrend

GBP/USD recorded solid gains in the second straight week of 2023, in the face of the continued United States Dollar (USD) downtrend and encouraging United Kingdom fundamentals. The Pound Sterling bulls, however, stalled just ahead of the 1.2450 barrier, as the focus shifts to the US growth figures in the week ahead.

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold rebounds ahead of US ADP, will it last?

Gold finds renewed Asian bids and retests $5,230 early Wednesday after the heavy sell-off on Tuesday. The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations. Gold defends $5,000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5,342 amid bullish RSI.