Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Forex

GBP/USD Price Forecast: Refreshes six-week high above 1.3500

Source Fxstreet

GBP/USD rallies further to near 1.3515 amid risk-on market mood in the wake of US-Iran optimism.
US President Trump said that the other side of Iran wants a deal “very badly”.
Investors await BoE Bailey’s comments for fresh cues on the UK interest rate outlook.

The Pound Sterling (GBP) extends its rally to near 1.3515 against the US Dollar (USD) during the Asian trading session on Tuesday. The GBP/USD pair strengthens as the market sentiment remains favorable for riskier assets amid positive commentary from United States (US) President Donald Trump and Vice President JD Vance over negotiations with Iran regarding a permanent ceasefire.

During the press time, S&P 500 futures trade flat after surging over 1% on Monday, reflecting that the broader market mood is risk-on. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, posts a fresh six-week low near 98.30.

US President Trump said in a press conference on Monday, “We've been called by the other side, and they want to make a deal very badly,” adding that the blockade on Iranian ports had started.

Earlier in the day, US VP Vance said in an interview with Fox News that negotiations with Iranian delegates in Pakistan were “productive”, but it is upto Iranians to take the next step.

On the domestic front, investors await remarks from Bank of England (BoE) Governor Andrew Bailey, who is scheduled to participate in a panel discussion at Columbia University at 16:05 GMT.

GBP/USD technical analysis

GBP/USD trades higher at around 1.3515 as of writing. The pair holds a constructive bullish bias as spot delivers a breakout of the key resistance zone around 1.3500.

The price holding above the 20-day exponential moving average (EMA), which is at 1.3373, suggests that the recent rebound remains underpinned.

The Relative Strength Index (RSI) strives to break into the 60.00 above zone, hinting that buyers still retain near-term control while the latest climb extends away from the short-term trend line.

On the downside, initial support is located at the 20-day EMA around 1.3373, where a break would undermine the immediate bullish structure and open the door to a deeper correction. As long as GBP/USD holds above this moving average, dips are likely to attract buying interest, with momentum conditions favoring a continuation of the advance towards the February 26 high at 1.3575, followed by the February 11 high of 1.3713.

(The technical analysis of this story was written with the help of an AI tool.)

Economic Indicator

BoE's Governor Bailey speech

Andrew Bailey is the Bank of England's Governor. He took office on March 16th, 2020, at the end of Mark Carney's term. Bailey was serving as the Chief Executive of the Financial Conduct Authority before being designated. This British central banker was also the Deputy Governor of the Bank of England from April 2013 to July 2016 and the Chief Cashier of the Bank of England from January 2004 until April 2011.

Recommended Articles

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

12 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

13 hours ago

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Have Fed Rate Hike Headwinds Been Priced In? Gold Rebounds Strongly Toward $4,400, Poised for a New Rally As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

Author TradingKey

Sep 18, Fri

As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Related Instrument