GBP/USD Weekly Forecast: All eyes on Fed, BOE for a fresh direction
After finishing the week in negative territory, GBP/USD is looking forward to the Fed and BOE monetary policy decisions in the week ahead for the next directional bias. Mounting tensions over a looming recession and higher inflation dominated financial markets and favored the safe-haven US dollar throughout the week. Meanwhile, UK political jitters and dire economic outlook weighed on the pound. Read more...
GBP/USD Forecast: Pound sellers take action as key support fails
GBP/USD has extended its slide below 1.2500 after having closed the previous two days in negative territory. The broad-based dollar strength continues to weigh on the pair early Friday as investors gear up for the US inflation data. On Thursday, the European Central Bank (ECB) said there will be a 25 basis points rate hike in July but failed to convince markets that they will opt for a 50 bps increase in September. The shared currency came under strong selling pressure and the British pound managed to capture some of the capital outflows out of the euro. With EUR/GBP falling nearly 100 pips from session highs on Thursday, GBP/USD's losses remained relatively limited. Read more...
GBP/USD plummets to fresh three-week low, below 1.2400 amid US CPI-inspired USD strength
The GBP/USD pair extended this week's rejection slide from the 1.2600 neighbourhood and witnessed some follow-through selling for the third successive day on Friday. The intraday selling picked up pace during the early North American session and dragged spot prices to over a three-week low, below the 1.2400 round-figure mark. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD falls toward 1.1100 ahead of EU inflation data
EUR/USD has come under renewed selling pressure, eyeing 1.1100 in the European session on Tuesday. The pair loses further ground, as the US Dollar extends recovery gains while the Euro remains wary of a large ECB rate cut in October. Key EU inflation data eyed.
GBP/USD extends losses below 1.3350 ahead of US ISM PMI
GBP/USD extends losses toward 1.3300 in the European trading hours on Tuesday. Fed Chair Powell's less dovish remarks and a cautious mood keep the US Dollar underpinned ahead of US ISM Manufacturing PMI, JOLTS Job Openings and Fedsepak.
Gold price sticks to modest intraday gains, remains below record peak touched last week
Gold price (XAU/USD) regains positive traction on Tuesday and for now, seems to have stalled a two-day-old corrective slide from the all-time peak touched last week.
Three reasons why SUI could continue its ongoing rally
Sui is extending its gains, trading at $1.9 at the start of the new month after a sharp rise last month. This bullish momentum could continue, driven by a new all-time high in Total Value Locked, rising open interest, and an uptick in daily active addresses.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.