Pound Sterling Price News and Forecast: GBP/USD Bears take a breather after post-election fall

FXStreet Team FXStreet

GBP/USD outlook: Bears take a breather after post-election fall

Cable edges higher following Wednesday’s post-US election 1.1% drop, generating an initial signal of recovery, after bears repeatedly experienced strong downside rejection.

Double failure to register clear break of Fibo support at 1.2846 (76.4% of 1.2664/1.3434) points to formation of a double-bottom pattern (1.2843/34) as nearby 200DMA (1.2813) also produced headwinds to bears. Read more...

GBP/USD in the red for six weeks

GBPUSD took a sharp dive to a two-month low of 1.2833 on Tuesday as the return of Trumponomics gave fresh impetus to the greenback.

On Wednesday, the 50% Fibonacci retracement level of the April-September rally came to support the market ahead of the BoE and Fed rate decisions, but with the price failing to hold above the ascending trendline from September 2022 and struggling to push past 1.3000 in recent days, the downside risks remain in play. Read more...

GBP/USD Forecast: Pound Sterling recovery on the line, markets await BoE and Fed

GBP/USD lost over 1% on Wednesday and registered its lowest daily-close since mid-August. The pair corrects higher toward 1.2950 in the European morning on Thursday as investors prepare for the Bank of England's (BoE) and the Federal Reserve's (Fed) monetary policy decisions.

The unabated US Dollar (USD) strength weighed heavily on GBP/USD on Wednesday as markets reacted to Donald Trump's victory in the US presidential election. The benchmark 10-year US Treasury bond yield rose nearly 4% and the USD Index, which gauges the USD's valuation against a basket of six major currencies, registered its largest one-day gain, rising over 1.5%. Read more...

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EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD: Pound Sterling ticks up against US Dollar in countdown to US NFP

The Pound Sterling trades marginally higher to near 1.3365 against the US Dollar during the Asian trading session on Friday. The GBP/USD pair edges up as the US Dollar ticks down ahead of the United States Nonfarm Payrolls data for February, which will be published at 13:30 GMT.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Top Crypto Gainers: Lombard, Humanity Protocol, OKB rally on US Fed’s tokenized securities clarity, NYSE investment

Lombard, Humanity Protocol, and OKB rally over the last 24 hours, securing the top-gainer spots in the early Asian session. The US Federal Reserve issued clarity on tokenized securities, which expands its utility and reduces regulatory friction with US banks, driving the Real-World Assets tokenization crypto projects.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

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.