GBP/USD Forecast: Pound Sterling stabilizes but remains vulnerable
Following Wednesday’s indecisive action, GBP/USD stays relatively quiet in the European session on Thursday and continues to fluctuate at around 1.3600. Pound Sterling could have a hard time attracting buyers unless the risk mood improves in a noticeable way.
US President Donald Trump reiterated his threat of imposing an additional 10% tariff on any country that aligns with the BRICS group on Wednesday. Trump also shared a new set of tariff letters, unveiling rates on imports from some minor trading partners, such as Libya, Algeria and Philippines. Read more…
GBP/USD hits two-week low as pressure mounts
TheGBP/USDpair dropped to1.3602on Thursday, marking atwo-week lowamid a strengthening US dollar and growing concerns over the UK’s public finances.
The sell-off intensified afterUS President Donald Trump confirmedthe imposition of25% tariffson goods from14 countries, including Japan and South Korea, effective1 August. So far, only theUK and Vietnamhave secured exemptions from these new tariffs, which are in addition to existing duties oncars, steel, and aluminium. Read more…
GBP/USD sets the ground for a pivot
GBP/USD is drawing buyers’ interest after briefly dipping below its 20-day simple moving average (SMA) and a week after retreating from the three-year high of 1.3787.
Upside pressures may remain intact as risk-on sentiment in global stock markets tends to fuel appetite for the British pound. Technical indicators also support this narrative: the stochastic oscillator is set for a rebound, and the RSI is attempting to avoid a drop below its neutral 50 mark. Read more…
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