Pound Sterling Price News and Forecast: Initial signals of reversal above thickening daily cloud developing

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GBP/USD outlook: Initial signals of reversal above thickening daily cloud developing on daily chart

Cable edged higher in European trading on Friday ahead of release of US inflation data, today’s key economic event, with better than expected UK Q1 GDP numbers adding to improving sentiment.

Technical picture shows conflicting signals from daily indicators (14-d momentum remains in the negative territory / MA’s are in mixed setup and thickening daily Ichimoku cloud continues to underpin near term action. Read more...

Pound Sterling rises ahead of US core PCE Inflation in focus

The Pound Sterling (GBP) gains against the US Dollar (USD) in Friday’s London session. The GBP/USD pair rises slightly ahead of the United States (US) core Personal Consumption Expenditures (PCE) Price Index data for May, which will be published on Friday.

The core PCE inflation data, the Federal Reserve’s (Fed) preferred inflation measure, is estimated to have decelerated to 2.6% year-over-year (YoY) from April’s reading of 2.8%. On a monthly basis, the underlying inflation is expected to have grown modestly by 0.1% against the prior increase of 0.2%. Read more...

GBP/USD Forecast: Pound Sterling struggles to clear key technical level

Following Wednesday's sharp decline, GBP/USD registered modest gains on Thursday. The pair, however, failed to pull away from the key 1.2640 level, reflecting the buyers' hesitancy.

Earlier in the day, the UK's Office for National Statistics reported that the annualized Gross Domestic Product (GDP) growth for the first quarter got revised higher to 0.3% from the 0.2% announced in the flash estimate. This data failed to trigger a noticeable market reaction. Read more...

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FXStreet

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

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 clings to gains as US-Iran conflict continues to underpin safe-haven assets

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar could keep the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.