Pound Sterling Price News and Forecast: GBP/USD altitude sickness at 1.40? [Video]
|GBP/USD battles with 1.40, bullish bias is expected [Video]
GBPUSD is battling with the strong 1.4000 psychological level, following the rebound off the long-term ascending trend line and the 1.3670 support. Moreover, cable jumped above the 20- and 40-day simple moving averages (SMAs) and the Ichimoku cloud. Looking at the technical indicators, the RSI is approaching the 70 level with weaker momentum than the previous session, while the stochastic is turning marginally lower in the overbought region. Read more...
GBP/USD Forecast: Altitude sickness at 1.40? The oversold dollar may outweigh sterling strength
No fewer than 340 pips in just over one week – has GBP/USD gone too high, too fast? That is what the charts are pointing to, but relentless dollar weakness may result in further gains for cable.
The greenback is on the back foot as US Treasury yields remain on relatively low ground and despite the recent uptick. Returns on benchmark ten-year bonds are around 1.60%, maintaining a safe distance from the cycle high of 1.77% but above the recent lows of 1.55%. Read more...
GBP/USD eases from multi-week tops, flat-lined below 1.4000 mark
The GBP/USD pair retreated around 25 pips from daily swing highs and was last seen hovering in the neutral territory, around the 1.3985-90 region.
The pair added to the previous day's massive rally of over 180 pips and edged higher during the first half of the trading action on Tuesday. The uptick pushed the pair to the highest level since early March and was supported by the prevalent bearish sentiment surrounding the US dollar. Bulls, however, struggled to capitalize on the move or find acceptance above the key 1.4000 psychological marks. Read more...
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