British Pound Sterling Price News and Forecast: GBP/USD holds near the 1.2400 area
|GBP/USD tests last week highs near 1.2480 and retreats
The positive momentum eased after being unable to break above 1.2480 (last week high). The greenback was moving without a clear direction, like equity prices in Wall Street. The Dow Jones was falling 0.70%, but on the positive side, holding to most of it recent gains.
Is there a better currency to trade vs GBP than USD?
In our most recent “Week Ahead” we highlighted daily GBP/USD chart as our Chart of the Week. We discussed hot the 61.8% retracement level from the March 9th highs to the March 20th lows at 1.2510 was initial resistance. The pair still has yet to break above; however, the pair may just be consolidating before a move higher.
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