GBP/USD Weekly Forecast: Sterling Plans Further Rise as BoE and NFP Approach

The pound sterling (GBP) has accelerated its upward momentum against the US dollar (USD). GBP/USD recording a four-year high near 1.3870 before making a tardy turnaround.

Once again, it was about USD behaving and GBP/USD dancing to its rhythm. Investor confidence in US assets such as the dollar, US Treasuries, etc. continued to decline amid US President Donald Trump’s inconsistent international policies and attacks on the independence of the Federal Reserve (Fed). Read more…

GBP/USD Price Forecast: Bears Seem Uncommitted as US Dollar Awaits Trump’s Fed Chair Pick

GBP/USD meets recent supply after good two-way price swings from the previous day and maintains a negative attitude throughout the first half of the European session on Friday. The US dollar (USD) is gaining some positive strength in response to optimism around the Senate’s federal government funding deal, which in turn is seen as a key factor putting pressure on spot prices. The lack of follow-up selling, however, warrants caution before entering a position to extend the retracement from the highest level since September 2021 around the 1.3870 area that was touched on Tuesday earlier this week.

Democrats and the White House have reached an agreement on momentary funding for the Department of Homeland Security as lawmakers rush to pass a spending package by Friday to avoid a partial shutdown of U.S. government operations. That’s helping the USD Index (DXY), which tracks the dollar against a basket of currencies, continue to move away from its four-year low set on Tuesday. Despite the rebound, the US dollar remains on track to record a second straight week of losses amid economic and political threats arising from US President Donald Trump’s impoverished decisions and attacks on the independence of the Federal Reserve (Fed). Read more…