GBP/USD Price Forecast: Edges higher above 1.3400, bullish outlook remains intact

The post Euro remains pinned at one-year lows against the British Pound as Euro Area inflation moderates appeared on BitcoinEthereumNews.com. The Euro (EUR) remains on the defensive against the British Pound (GBP) on Friday, with the EUR/GBP pair unable to take off from one-year lows at the 0.8515 area. Data from Germany and France confirmed that inflationary pressures moderated in June, which added pressure on the common currency. In Germany, the final Harmonized Index of Consumer Prices (HICP) confirmed previous estimations showing that inflation grew at a 2.4% year-over-year (y-o-y) rate in June, down from 2.7% in May and from April’s 2.9% peak. Monthly inflation contracted 0.2%, also in line with preliminary estimations, following a 0.1% contraction in May. Likewise, France’s Consumer Price Index (CPI) confirmed that yearly inflation eased to a 2% y-o-y rate in June, from the 2.8% reading witnessed in May. Monthly inflation contracted at a 0.3% pace, following a 0.1% uptick in the

The post British Pound: Upside risk toward resistance against US Dollar – UOB appeared on BitcoinEthereumNews.com. According to UOB’s Quek Ser Leang, GBP/USD’s sharp rebound has left scope to test major resistance at 1.3445, though a clear break is seen as unlikely in the near term. Short-term support lies at 1.3390 and 1.3360. Over one to three weeks, strengthened momentum could open 1.3480 if 1.3445 gives way, while broader ranges dominate over months. Pound testing key resistance band “24-HOUR VIEW: GBP fell to 1.3315 on Wednesday and then rebounded strongly. When GBP was at 1.3390 in the early Asian session yesterday, we highlighted that “the sharp rebound appears to be overdone, but there is a chance for GBP to test 1.3420 before the risk of a pullback increases.” We added, “the major resistance at 1.3445 is unlikely to come into view.” GBP then rose to 1.3430, pulled back to 1.3381 before moving back up to close at 1.3409 (+0.14%). While there has been no clear increase in upward

The post Pound Sterling Price News and Forecast: GBP gains ground to near 1.3430 early European session appeared on BitcoinEthereumNews.com. The GBP/USD pair trades in positive territory around 1.3430 during the early European trading hours on Friday. The UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes underpin the British Pound (GBP) against the US Dollar (USD). Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Read more… British Pound gains traction above 1.3400 as markets bet on BoE rate hikes The GBP/USD pair gathers strength to around 1.3430 during the Asian tradin

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The post British Pound gains traction above 1.3400 as markets bet on BoE rate hikes appeared on BitcoinEthereumNews.com. The GBP/USD pair gathers strength to around 1.3430 during the Asian trading hours on Friday. The British Pound (GBP) edges higher against the US Dollar (USD) on the UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes. Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Traders increased bets on BoE interest rate hikes amid escalating tensions between the US and Iran. Markets are now fully pricing in a 25 basis points (bps) BoE rate hike by year-end, most li

The post GBP/JPY Price Forecast: Bullish amid respected higher-high structure appeared on BitcoinEthereumNews.com. The British Pound advances some 0.50% against the Japanese Yen on Thursday, as risk appetite improves after US President Donald Trump said that Iran had reached out and that it wants to make a deal badly. At the time of writing, GBP/JPY trades at 217.76, near year-to-date (YTD) highs. GBP/JPY Price Forecast: Technical outlook The GBP/JPY has reached 18-year highs, last seen in February 2008, opening the door to challenging the January 2008 monthly peak levels. Price action shows the market is respecting a series of higher highs and higher lows, an indication of further upside. Momentum favours buyers, as the Relative Strength Index (RSI) is bullish and about to enter overbought territory, indicating further upside. The first resistance for GBP/JPY is 218.00. Once cleared, it opens the door to challenge key psychological levels like 219.00, 220.00 and the January 2008 high

The post Pound Sterling Price News & Forecast: GBP/USD trades slightly higher as the US Dollar fails to gain strong traction appeared on BitcoinEthereumNews.com. British Pound: Recovery tests key resistance against US Dollar – Scotiabank Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” Read more… British Pound elevates despite firm US claims GBP/USD trades higher near the

The post British Pound: Recovery tests key resistance against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is fractionally higher versus the US Dollar (USD), with sentiment improving after PM Starmer’s resignation announcement. They see support from a repriced Bank of England (BoE) rate path following the latest Oil rally and describe GBP/USD’s recovery as increasingly entrenched as it attempts to break above 1.3400 and trades within a 1.3350–1.3450 range. Pound sentiment improves on policy repricing “The pound is up fractionally vs. the USD and is a mid-performer among the G10 currencies as we head into Thursday’s NA session with focus still largely centered on broader developments in the absence of high-level domestic releases.” “The recent recovery in sentiment remains important, signaling market confidence in the aftermath of PM Starmer’s June 22 resignation announcement.” “Fundament