Pound Sterling Price News and Forecast: GBP/USD could stretch lower if 1.2900 support fails

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling could stretch lower if 1.2900 support fails

GBP/USD recovered modestly after dipping below 1.2900 on Monday but closed the day in the red. The pair stays in a consolidation phase in the European session as market participants stay on the sidelines ahead of key macroeconomic events.

The risk-averse market environment on growing concerns over an aggressive US trade policy weighing on the economic outlook caused GBP/USD to stretch lower at the beginning of the week. Read more...

GBP/USD turns sideways as 20-SMA blocks advances

GBP/USD continues to consolidate after the rebound from the January low of 1.2099 ran out of steam around the 1.3000 area in mid-March. Uncertainty surrounding Trump’s tariffs is likely making it difficult for the bulls to charge ahead with confidence even as the recent UK economic data have been satisfactory.

Following the pullback, the 20-day simple moving average (SMA) initially acted as support but has now risen above the price action to cap any gains. Slightly beneath it is the 61.8% Fibonacci retracement of the September 2024-January 2025 downleg at 1.2923 and together with the 1.2875 level, they are acting as a strong support base for the pair. Read more...

Author

FXStreet Team

FXStreet

EUR/USD loses traction after earlier rebound, tests 1.1600

EUR/USD fails to preserve its recovery momentum after rising toward 1.1650 earlier in the day and tests 1.1600. The risk-averse market atmosphere amid the widening conflict in the Middle East and the broad-based US Dollar strength make it difficult for the pair to hold its ground.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD stays in negative territory near 1.3350 in the second half of the day Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh safe-haven demand, weighing on the pair.

Gold struggles to benefit from risj-aversion, drops toward $5,100

Gold turns south in the American session on Thursday and declines toward $5,100. The persistent US Dollar (USD) strength doesn't allow XAU/USD to gather recovery momentum despite markets remain risks-averse due to 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.

Markets attempt to rally on positive news from Iran

There’s been an abrupt change in sentiment this morning, European stock markets are higher and oil and gas prices are moderating, after comments from Iran’s deputy minister about pre-conflict talks between Iran and the US.

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.