Pound Sterling Price News and Forecast: GBP/USD may face initial resistance at 1.3400

FXStreet Team FXStreet

GBP/USD Price Forecast: Finds support near 1.3300 after breaking below ascending channel

The GBP/USD pair steadies around 1.3320 during Asian trading hours on Monday, after posting losses in the previous session. Technical analysis on the daily chart suggests a weakening bullish trend, as the pair breaks below its ascending channel pattern.

However, the GBP/USD pair continues to trade above the nine-day Exponential Moving Average (EMA), reinforcing short-term bullish momentum. Additionally, the 14-day Relative Strength Index (RSI) holds above 50, further supporting the bullish bias. Read more...

GBP/USD Weekly Outlook: Pound Sterling stands resilient to Trump's tariff play

The Pound Sterling (GBP) extended its winning momentum against the US Dollar (USD), driving the GBP/USD pair briefly to levels above 1.3400. GBP/USD mainly remained at the mercy of the US Dollar dynamics, induced by US President Donald Trump’s erratic tariff moves and some flickers of optimism on surprisingly resilient US corporate earnings.

The Greenback yo-yoed wildly this week, tumbling nearly 1% against its major rivals at the start of the week on Monday after Trump threatened to fire Fed Chair Jerome Powell for not lowering interest rates quickly enough, only to surge 1.5% a day later as Trump softened his rhetoric about China and the independence of the US Federal Reserve. Read more...

GBP/USD consolidates around 1.3300 mark; downside potential seems limited

The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band around the 1.3300 round-figure mark during the Asian session.

The US Dollar (USD) preserves last week's recovery gains from a multi-year low amid the uncertainty over US-China trade talks, which, in turn, is seen as a key factor acting as a headwind for the GBP/USD pair. US Treasury Secretary Scott Bessent said on Sunday that he did not know if US President Donald Trump had talked to Chinese President Xi Jinping. This keeps a lid on the optimism led by Trump's assertion that tariff talks with China were underway and underpins the USD's relative safe-haven status. Read more...

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EUR/USD remains on the back foot around 1.1700

EUR/USD is coming under heavy selling pressure, hovering around the 1.1700 region in the latter part of the NA session on Monday. The pair’s severe retracement comes as the US Dollar stages a marked bounce on the back of the prevailing flight to safety atmosphere, as investors react to the escalating conflict in the Middle East.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.