Pound Sterling Price News and Forecast: GBP/USD bears are lurking near a potential key resistance area
|GBP/USD bears could be looking to guard the 1.2420s
GBP/USD is currently correcting towards a 38.2% Fibonacci retracement level near the 1.2420s as it takes on resistance while the Greenback gives some ground back following Tuesday´s resurgence.
Market sentiment turned risk-averse amid worries about earnings in the banking sector especially which drove the US Dollar higher. The DXY index, which measures the US dollar vs. a basket of currencies, benefitted from the related risk-off flows and touched a high of 101.949. Read more...
GBP/USD bears stacked up to test trendline support
The safe-haven US dollar rose on Tuesday as market sentiment turned risk-averse amid further worries about the banking sector. This has flipped the technicals in GBP/USD bearish once again. Read more...
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