Pound Sterling Price News and Forecast: GBPUSD reaches two-month highs

FXStreet Team FXStreet

GBPUSD Price Analysis: Upside seems favored on rising channel breakout

The GBPUSD pair has witnessed a decline below the critical support of 1.1800 in the Tokyo session. The asset has turned sideways amid the unavailability of any potential trigger. However, the risk profile is continuously solid post the release of the US inflation report. The US dollar index (DXY) has witnessed intermediate support around 106.30 after a perpendicular decline move.

GBPUSD Weekly Forecast: Pound Sterling eyes acceptance above 1.1800

GBPUSD swung from a two-week low to a two-month top in a matter of a few days, having climbed toward 1.1800 ahead of the weekend. The pair benefited from the US Dollar weakness, which extended on narrowing gap between monetary policies from the United States (US) and the United Kingdom (UK).

EUR/USD retreats to daily lows near 1.1570

EUR/USD briefly pushed higher earlier in the session, climbing toward the 1.1650 area, but the recovery quickly lost momentum and the pair has drifted back to test the 1.1570 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is making it difficult for the pair to maintain its footing.

GBP/USD loses the grip, focus is on 1.3300

GBP/USD remains on the defensive on Thursday, hovering around the 1.3320 region. The British Pound is coming under pressure amid growing concerns that rising energy prices could expose the UK economy to stagflation risks, while renewed safe-haven demand for the Greenback continues to weigh on the pair.

Gold drops to two-day lows near $5,100

Gold turns lower on Thursday, slipping back toward the $5,100 area. Persistent strength in the US Dollar (USD) is preventing the precious metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.