GBP/USD trades slightly higher in thin holiday trade ahead of US NFP
The British Pound (GBP) trades slightly higher against the US Dollar (USD) on Friday, as modest softness in the Greenback lends some support. However, price action remains subdued amid thin liquidity conditions due to the Good Friday holiday, with trading activity likely to pick up during the American session as traders await the US Nonfarm Payrolls (NFP) report.
At the time of writing, GBP/USD is trading around 1.3234, after falling to a four-month low at 1.3159 earlier this week. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is hovering near the 100 mark, after touching a 10-month high of 100.64 on Tuesday. Read more…
GBP/USD: Geopolitical tensions drive Pound selling
GBP/USD stabilised around 1.3227 on Friday following a sharp decline the previous day. Rising geopolitical tensions have weighed on the pound following fresh statements from US President Donald Trump. Increased military rhetoric towards Iran and the lack of clarity regarding the reopening of the Strait of Hormuz have led to a jump in oil prices and heightened demand for the US dollar as a safe-haven asset.
Additional pressure on the pound stems from the UK’s heavy reliance on energy imports and concerns about public finances. Yields on British government bonds have risen in tandem with energy prices, adding further strain on the currency. Read more…
GBP/USD Price Forecast: Rebounds toward 1.3250 near nine-day EMA
GBP/USD holds gains after registering over 0.5% losses in the previous day, trading around 1.3230 during the Asian hours on Friday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair remains within the descending channel pattern.
The near-term bias stays mildly bearish as the GBP/USD pair holds below both the nine-day and 50-day Exponential Moving Averages (EMAs), which cap rebounds and confirm a deteriorating short-term trend. Price action has made a sequence of lower highs and lower closes from the 1.35 area, reinforcing downside pressure. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-trades-slightly-higher-in-thin-holiday-trade-202604031235
