Pound Sterling Price News and Forecast: GBP/USD snaps two-day downtrend

FXStreet Team FXStreet

GBP/USD Price Analysis: Licks wounds near 11-week low with limited upside potential

GBP/USD consolidates the biggest weekly loss since November around 1.3235-40 during Monday’s Asian session. The pair dropped to the lowest levels in 11 weeks by the end of Friday but oversold RSI triggered the cable pair’s corrective pullback. However, a downward sloping trend line from February 23 and the 10-DMA, respectively around 1.3315 and 1.3355, test the rebound.

BP/USD Weekly Forecast: Downside remains compelling amid Russia-Ukraine war

GBP/USD accelerated its downside momentum in a busy Nonfarm Payrolls week, having reached the lowest level in three months below mid-1.3200s. Risk-aversion remained the underlying market theme, as Russian aggression in Ukraine failed to subside, despite two rounds of ‘peace talks’. Stagflation risks amid soaring oil prices will likely keep cable undermined in a relatively light week ahead, as investors remain on edge due to the ongoing Ukraine crisis.

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, tests $5,400

Gold benefits from intense risk-aversion on Monday and climbs to the $5,400 region, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.