Pound Sterling Price News and Forecast: GBP/USD consolidates losses, seesaws around yearly low
|GBP/USD Price Analysis: Seesaws near 1.3250, bearish pennant in focus
GBP/USD grinds lower despite picking up bids to 1.3250 during Wednesday’s Asian session. The cable pair remains pressured for the last one week around the 20221 bottom. In doing so, it forms a bearish chart pattern called pennant and keeps the sellers hopeful. Also favoring the bears is an absence of the oversold RSI.
GBP/USD Analysis: Slide below 1.3200 mark remains a distinct possibility
The GBP/USD pair built on the previous day's positive move up from the vicinity of 1.3200 and gained some traction during the first half of the trading action on Tuesday. In the absence of any negative Brexit-related headlines, rising bets for an imminent rate hike by the Bank of England in December acted as a tailwind for the British pound. Apart from that, subdued US dollar demand extended some support to the pair.
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