Pound Sterling Price News and Forecast: GBP/USD remains in an ascending channel pattern

FXStreet Team FXStreet

GBP/USD Price Forecast: Holds gains above 1.2600 support near nine-day EMA

The GBP/USD pair gains ground after registering losses in the previous two successive sessions, trading around 1.2630 during the Asian session on Tuesday. However, technical analysis of the daily chart suggests a persistent bullish bias, with the pair continuing to move within an ascending channel pattern.

The 14-day Relative Strength Index (RSI) sits just above the 50 level, indicating increased bullish momentum. Moreover, the pair remains above the nine- and 14-day Exponential Moving Averages (EMAs), signaling strong short-term price dynamics and reinforcing the upward trend. Read more...

GBP/USD corkscrews near key averages as central bank speeches gather

GBP/USD churned on Monday, jumping to a fresh 10-week high before slumping back to the day’s opening bids near 1.2630. Cable failed to recapture the 1.270 handle, and price action has fallen back beneath the 200-day Exponential Moving Average (EMA) near 1.2660.

A resurgence in US inflation figures late last week kicked off a fresh round of risk aversion. Investors will be focused squarely on upcoming US Personal Consumption Expenditure (PCE) inflation data due later this week. Traders hope that an early-year uptick in headline inflation data from the US will recede quickly and not solidify into another drawn-out battle with “transitory” inflation that runs too hot for the Federal Reserve (Fed) to deliver rate cuts. Read more...

GBP/USD holds firm after hitting 9-week high

The Pound Sterling (GBP) remains firm against the US Dollar (USD) during the Monday North American session, yet retraced earlier gains after hitting a nine-week high of 1.2690 amid some USD weakness. GBP/USD trades at 1.2632, almost flat.

The market mood remains uneasy as traders digest the news that companies are reducing expenses. This indicates cautiousness as United States (US) President Donald Trump continues to use trade policies to negotiate favorable deals for the US. Read more...

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EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold moves closer to $5,150 amid sustained safe-haven flows

Gold climbs back above $5,100 during the Asian session on Wednesday, moving away from an over one-week low, touched the previous day. Sustained safe-haven flow, amid escalating geopolitical tensions in the Middle East, acts as a tailwind for the bullion. However, a bullish US Dollar and reduced bets for more aggressive easing by the US Fed might keep a lid on the non-yielding yellow metal ahead of the US ADP report and ISM Services PMI later today.