Pound Sterling Price News and Forecast: GBP could remain hesitant ahead of key BoE and Fed meetings
|GBP/USD Forecast: Pound Sterling buyers could remain hesitant ahead of key BoE and Fed meetings
GBP/USD holds its ground at the beginning of the week and trades in a tight band above 1.3550. Although the technical outlook suggests that the bullish stance remains unchanged in the near term, investors could refrain from taking large positions ahead of this week's highly anticipated Federal Reserve (Fed) and Bank of England (BoE) policy meetings.
The US Dollar (USD) benefited from safe-haven flows on Friday and caused GBP/USD to end the day in negative territory, as geopolitical tensions escalated after Israel launched a military operation against Iran. Read more...
GBP/USD Price Forecast: Treads water above 1.3550, nine-day EMA
The GBP/USD pair has recovered its daily losses, trading around 1.3570 during the Asian hours on Monday. The bullish bias may weaken as the daily chart’s technical analysis indicates that the pair is hovering around the ascending channel pattern.
The GBP/USD pair has rebounded above the nine-day Exponential Moving Average (EMA), suggesting the short-term price momentum is still stronger. Additionally, the 14-day Relative Strength Index (RSI) is positioned above 50, indicating a bullish bias is in play. Read more...
GBP/USD Weekly Outlook: Pound Sterling braces for Fed/ BoE policy outcomes
The Pound Sterling (GBP) stood tall for the third consecutive week against the US Dollar (USD) as the GBP/USD pair refreshed 39-month highs above 1.3600.
Following a phase of upside consolidation in the first half of the week, GBP/USD regained traction in the latter part and hit the highest level since February 2022, near 1.3635. Read more...
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