Pound Sterling Price News and Forecast: GBP/USD Battling with the critical 1.3000 level [Video]
|Cable bulls are not ready to take profits quite yet [Video]
We hold a broadly negative dollar outlook, but there are still likely to be some retracements within this weakness. On Cable there was a key break higher above $1.2810 on Monday, in a move which continued yesterday as the bulls still saw intraday weakness as a chance to buy. Cable bulls are not ready to take profits quite yet. Technically, this move above $1.2810 has opened $1.3000 initially, but the key March high of $1.3200 is also now open. Read more...
GBP/USD Forecast: Battling with the critical 1.3000 level
The GBP/USD pair flirted with the 1.3000 level, retreating just modestly from it ahead of the US Federal Reserve announcement, only to surpass it afterwards. Market players had no reasons to buy the dollar as the coronavirus numbers continue to suggest the economic downturn in the country has not yet reached a bottom.
Market players have continued to ignore Brexit-related headlines that paint a gloomy picture for the UK. Despite both parts are committed to reaching a deal, they have failed miserably in finding common ground within discussions. Read more...
GBP/USD loses some of its shine after Powell comments
Its was the last headline that seemed to have done the damage to EUR/USD and GBP/USD. The market is still extremely volatile but the dollar seems to do well as a safe haven when the recovery is threatened and in this case, there has been no change. The fact that the Fed are willing to use all their tools if the situation gets worse is also supportive. Read more...
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