Pound Sterling Price News and Forecast: GBP/USD bears charged on weekend covid news
|GBP/USD: Bears eager for a covid trigger to move in towards 1.3200
GBP/USD, which has been tugged and pulled over recent weeks between central bank themes, now faces the risk of a covid contagion risk for the foreseeable future since the latest coronavirus threat. For the open, the bias leans to the downside considering the latest sell-off in the greenback and weekend reports that Omicron has breached the shores of the UK.
GBP/USD Weekly Forecast: Pound recovery at the mercy of BoE rate hike bets
The GBP/USD pair started the week under bearish pressure after failing to reclaim 1.3500 in the previous week. With the greenback continuing to gather strength against its major rivals on the back of rising US Treasury bond yields, the pair extended its slide below 1.3300 and touched its lowest level since December 2020. Ahead of the weekend, the intense flight to safety triggered a sharp drop in yields and allowed GBP/USD to erase a small portion of its weekly losses.
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