British Pound spikes to weekly tops, now eyes higher levels
|British Pound Price Analysis: Spikes to weekly tops, tests 200-hour SMA
The British pound added to its recent recovery move and gained some follow-through traction for the third consecutive session on Thursday. The momentum lifted the pair to fresh weekly tops in the last hour, with bulls now eyeing a move beyond 200-hour SMA. Read more…
GBP/USD now looks to 1.2900 – UOB
24-hour view: “The fact that GBP stayed at the top of our expected 1.2915/1.3050 range tells us that a base may be forming just under 1.3000. To cement the view, GBP would need to take out 1.3070 convincingly. Above that, 1.3100 is another strong resistance. On the downside, 1.3000 supports and only a move below 1.2970 would indicate that the upward pressure has eased.” Read more…
British Pound Forecast: Rate cut speculations, Brexit uncertainties to cap the ongoing recovery
The GBP/USD pair witnessed some intraday selling on Wednesday and weakened back below the key 1.30 psychological mark following the release of softer UK consumer inflation figures. In fact, the headline UK CPI unexpectedly eased to a three-year low, at a 1.3% annualized pace in December from 1.5% previously. Adding to this, the core CPI (excluding food and energy prices) also fell short of market expectations and held flat during the reported month and rose 1.4% from a year earlier. Read more...
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