Pound Sterling Price News & Forecast: GBP/USD lacks any firm intraday directional bias

GBP/USD Price Forecast: Consolidates around mid-1.3400s amid firm USD, cautious setup

The GBP/USD pair struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and oscillates in a narrow range around mid-1.3400s at the start of a new week. The US Dollar (USD) regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve (Fed) bets. This, in turn, is seen as a key factor acting as a headwind for spot prices.

The British Pound (GBP), on the other hand, is undermined by expectations for a delayed rate hike from the Bank of England (BoE), especially after softer inflation figures and an unexpected rise in the Unemployment Rate. Traders, however, opt to wait for this week’s important US macro releases and BoE Governor Andrew Bailey’s appearances before positioning for the next leg of a directional move for the GBP/USD pair. Read more…

British Pound holds steady near 1.3450 amid US-Iran deal uncertainty

The GBP/USD pair trades on a flat note near 1.3450 during the early Asian trading hours on Monday. The British Pound (GBP) stabilizes in a sideways consolidation mode following a highly volatile week. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US ISM Manufacturing Purchasing Managers Index (PMI) report later in the day.

The BBC reported on Sunday that US President Donald Trump has sought to change several terms of a proposal to end the US-Israel war on Iran. The changes are related to the Strait of Hormuz and the removal of highly enriched uranium. Read more…

GBP/USD Weekly Forecast: British Pound defends 200-day SMA, but for how long?

The British Pound (GBP) reversed course and posted a weekly loss against the US Dollar (USD), with 1.3500 remaining a tough nut to crack for buyers.

GBP/USD danced to the whims and fancies of fluid market conditions, thanks to the fast-shifting headlines around a potential peace deal between the United States (US) and Iran. Read more…