The Pound to Euro (GBP/EUR) exchange rate extended its recent rally last week, with Sterling repeatedly climbing to fresh one-year highs as fading UK political uncertainty and diverging central bank expectations continued to favour the Pound. At the time of writing, GBP/EUR was trading at €1.1741, close to its highest level since June.
Cable moves within a narrow-range sideways mode for the second consecutive day, after 1% advance last week that completed reversal pattern on weekly chart (after the downleg from 1.3869 was contained by ascending trendline, drawn off 1.0348, 2022 low) and generated positive signal on close above weekly Ichimoku cloud top (1.3335).
Pound Sterling Price News and Forecast: GBP/USD holds firm as Trump ceasefire shock tests USD
The battle for control of GBP/USD is shifting back to a familiar battleground. After recovering sharply from support at the yearly lows, Sterling is once again confronting the yearly open and a major Fibonacci resistance zone that rejected price just weeks ago.
GBPUSD managed to test the resistance zone at 1.3400-30 in the last few days before a market correction. As we see over the previous chart and as long as prices remain below this resistance, another retreat toward 1.3305 and 1.3160 could hit the market.
The US Dollar remained firm amid sticky core inflation and monetary policy divergence. DXY held at $100.79 inside a blue ascending channel while EUR/USD held $1.1440 support and GBP/USD defended $1.3422 resistance zone.
British Pound: Upside risk toward resistance against US Dollar – UOB
The Pound to Canadian Dollar (GBP/CAD) exchange rate edged higher to 1.9015 on Friday as investors looked ahead to Canada's latest Employment Change and Unemployment Rate figures, with the labour market report expected to set the tone for the Canadian Dollar into next week. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD):.
GBP/USD Price Forecast: Edges higher above 1.3400, bullish outlook remains intact
Pound Sterling Price News & Forecast: GBP/USD trades slightly higher as the US Dollar fails to gain strong traction
The pound has ben strengthening all week, and despite a renewed flare-up in geopolitical tensions between the US and Iran, wh.
As the US Dollar benefits from deep capital markets and safe-haven status, it held firm following FOMC minutes with DXY at $100.85. EUR/USD defended $1.1440 support while GBP/USD tested $1.3418 resistance.