Pound Sterling Price News and Forecast: GBP/USD consolidates Friday’s gains following a downbeat week-start
|GBP/USD stays depressed around 1.3850 on sour senitment, UK employment data eyed
GBP/USD remains on the back foot around 1.3840-45 amid the initial Asian session on Tuesday. The cable stepped back from a confluence of the monthly resistance line and 50-DMA the previous day to consolidate Friday’s gains. While the risk-off mood joins Brexit headlines to weigh on the GBP/USD prices, the pair sellers await monthly employment data from the UK for fresh impulse.
GBP/USD Forecast: Market participants waiting for UK employment figures
The GBP/USD pair bottomed for the day at 1.3827, recovering some ground in the American afternoon to end the day at around 1.3854. The pair depended solely on the dollar’s demand, or the lack of it, ignoring news coming from the United Kingdom. Nevertheless, news showed a sharp increase in the value of goods imported from Northern Ireland to the Republic, up by 77%, while the value of exports rose 43%. Companies on both sides of Ireland are making their way to avoid difficulties resulting from the Brexit protocol.
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