Pound Sterling Price News and Forecast: GBP/USD bulls stay the course as US dollar remains pressured
|GBP/USD bulls stay the course as US dollar remains pressured
At 1.2580, GBP/USD is flat in midday trade on Wall Street. The pair has moved within a range of between 1.2551 and 1.2620 so far. Sterling, among the rest of the G7 block, has benefitted from a softer US dollar in the closing stages of the month. Comments from FOMC officials this week have turned slightly dovish and the focus turned to other central banks, such as the European central bank, the Reserve bank of New Zealand and meetings on the horizon, such as the Bank of England in June. Read more...
GBP/USD Forecast: Pound closes in on key resistance above 1.2600
GBP/USD has gathered bullish momentum on Thursday and climbed above 1.2600. The pair was last seen testing the key resistance level located near 1.2620 and a four-hour close above that level could be taken as a bullish sign. The selling pressure surrounding the greenback is helping GBP/USD push higher. The US Dollar Index stays in negative territory below 102.00 in the European trading hours as US Treasury bond yields extend the weekly slide toward 2.7%. Read more...
Technical view: BTC/USD emphasising weakness and EUR/USD eyeing higher levels
GBP/USD: Long term, this market has been entrenched within a strong primary downtrend since early 2021, emphasising weekly resistance at $1.2719 and daily Quasimodo support-turned resistance at $1.2762 as a possible ceiling should price test the base. Interestingly, the daily timeframe’s relative strength index (RSI) is poised to overthrow the 50.00 centreline: positive momentum. Read more...
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