Pound Sterling Price News and Forecast: GBP/USD could decline below the 55– and 100-hour moving averages
|GBP/USD: Risk-aversion drives traders from the sterling
Sterling has lost all of its summer bounce and is threatening to break back into its immediate post-pandemic range of 1.2300-1.2700. Volatility has been compounded by several fundamental uncertainties. COVID-19 lockdowns, Brexit and resurgent dollar have battered the pound, as FXStreet’s analyst Joseph Trevisani notes.
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GBP/USD analysis: Could go upwards
At the end of last week, the GBP/USD exchange rate reversed north from the lower line of the medium-term descending channel.
From a theoretical point of view, it is likely some upside potential could prevail in the market, as the currency pair should target the upper channel line located circa 1.2950.
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