Pound Sterling Price News and Forecast: GBP/USD breaches 1.3900 mark
|GBP/USD Forecast: Fed fuels ascent toward 1.40, only overbought conditions could halt the rally
"More ground to cover" – the Federal Reserve has said it is waiting for more data before tightening, and that has sent GBP/USD to the highest in a month. While the Fed has expressed content at the progress of the US economy – and has had its first debate about the timing of tapering bond buys – there seems to be no rush.
The Washington-based institution reiterated its view on rising inflation as merely transitory, a price shock resulting from the rapid reopening that is unlikely to turn into persistently high inflation. It also noted that millions of Americans have yet to return to work and noted risks due to the Delta covid variant – albeit having a reduced impact than beforehand. Read more...
GBP/USD analysis: Breaches 1.3900 mark
The GBP/USD currency exchange rate has passed the resistance of the 1.3900 marks and the weekly R2 simple pivot point at 1.3919. The next target for the rate appears to be the 1.4000 level.
If the rate reaches and passes the resistance of the 1.4000 marks, the pair, in theory, should reach for the combined resistance of the 1.4050 marks and the weekly R3 simple pivot point at the same exact level. Read more...
GBP/USD Price Analysis: Bulls look to test 50-DMA resistance at 1.3951
GBP/USD is extending its four-day winning streak beyond 1.3900, as the bulls remain unstoppable amid notable US dollar supply and an upbeat market mood.
The greenback remains undermined by falling Treasury yields, thanks to the Fed’s dovish stance while a turnaround in the Chinese stocks has helped lift the broader market sentiment. Read more...
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