Pound Sterling Price News and Forecast: GBP/USD struggles to clear 1.2700

FXStreet Team FXStreet

GBP/USD Forecast: Sellers remain interested as Pound Sterling struggles to clear 1.2700

GBP/USD benefited from the selling pressure surrounding the US Dollar (USD) in the second half of the day on Monday and registered modest gains. The pair, however, finds it difficult to hold above 1.2700 and the technical outlook suggests that the bearish bias remains unchanged in the near term.

The positive shift seen in risk mood caused the USD to weaken against its major rivals in the American session on Monday. The Nasdaq Composite gained more than 1% and the S&P 500 rose nearly 0.8%. Read more...

GBP/USD Forecast: Pound Sterling could test 1.2640 next

GBP/USD declined sharply on Friday and closed the previous week in negative territory. The pair struggles to gain traction on Monday and trades modestly lower on the day below 1.2700 in the European session.

The broad-based US Dollar (USD) strength weighed on GBP/USD in the second half of last week. Although soft inflation data from the US revived expectations for a Federal Reserve (Fed) rate cut in September, the negative shift seen in risk mood helped the USD outperform its rivals. Read more...

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EUR/USD looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold retains positive bias amid sustained safe-haven flows and modest USD pullback

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ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

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