Pound Sterling Price News & Forecast: GBP/USD could find the primary support lies at the reversal zone

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GBP/USD Price Forecast: Targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

The 14-day Relative Strength Index (RSI), a momentum indicator, is at 40 points to sustained bearish pressure without oversold conditions, suggesting sellers retain control but lack capitulation extremes. The near-term bias is mildly bearish as spot holds below the nine-day Exponential Moving Average (EMA) and slides toward the flatter 50-day average, indicating fading upside momentum. Read more...

GBP/USD Weekly Forecast: Pound tests 1.3450 support ahead of key US jobs data

The Pound Sterling (GBP) entered a bearish consolidation phase against the US Dollar (USD), after having tested critical support near the 1.3450 level on several occasions. GBP/USD hovered close to the monthly lows of 1.3434 reached a week ago, closing almost unchanged on a weekly basis. The listless performance in the major could be attributed to the USD’s subdued trading action and a largely risk-averse market environment.

Despite lingering geopolitical risks surrounding the United States (US) and Iran over the nuclear program, the Greenback failed to capitalize on the safe-haven flows as US President Donald Trump’s erratic trade policy outweighed those concerns. The US Supreme Court last Friday rejected Trump’s emergency tariffs, prompting the President to announce a new 10% rate on the rest of the world, only to then lift it to 15%. The move rekindled market concerns over a highly uncertain and volatile environment, acting as a headwind for the US assets, including the USD. Read more...

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FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD shows resilience below 38.2% Fibo. near mid-0.7100s

The AUD/USD pair touches a one-and-a-half-week low, around the 0.7140 region during the Asian session on Monday, though it lacks follow-through. Spot prices currently trade just above mid-0.7100s, down nearly 0.25% for the day.

USD/JPY: Japanese Yen edges lower vs USD amid Middle East jitters as Fed, BoJ meetings loom

The USD/JPY pair attracts some buyers at the start of a new week and climbs closer to the 154.00 mark during the Asian session, reversing a part of Friday's losses. Spot prices, however, remain confined in a range held over the past week or so and within striking distance of a nearly seven-month low, touched last Tuesday, as traders await this week's key central bank events.

Gold: Fed’s rate decision to drive the next move

Gold reflects a subdued performance at the start of the Federal Reserve’s (Fed) monetary policy week at around $4,330. Fed’s interest rate expectations heavily influenced last week after the release of the hot United States (US) Producer Price Index (PPI) and Consumer Price Index (CPI) reports for August.

Pi Network extends gains as ecosystem development supports recovery

Pi Network (PI) extends its recovery on Monday, trading above $0.097 after two consecutive weeks of gains. Continued ecosystem development and improved developer tools are boosting utility. Meanwhile, the technical indicators point to a tentative recovery, but overhead Exponential Moving Averages remain a challenge and cap PI gains.

Canada CPI expected to show steady inflation in August

Canada’s August Consumer Price Index figures will be the focus of attention when published on Monday. Indeed, Statistics Canada data will provide markets with an update on price pressures following the Bank of Canada’s September 2 meeting, when officials kept the interest rate steady at 2.25%, broadly in line with analyst consensus.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.