Pound Sterling Price News and Forecast: GBP/USD escapes bearish trap but yet to turn bullish
|GBP/USD escapes bearish trap but yet to turn bullish
GBP/USD staged a relief rally towards 1.3479 as the US dollar retreated following President Trump’s comments that the conflict in Iran could end "very soon”. While he later cautioned a more powerful response should Iran interfere with tankers at the Strait of Hormuz, the initial optimism provided the cable with much-needed breathing room.
The pair held a strong footing near the support trendline from January 2025 and climbed above the short-term descending trendline drawn from the January peak, raising hopes that a new bullish phase is underway. Read more...
GBP/USD Price Forecast: Bulls look to seize control amid hopes for end to Iran war
The GBP/USD pair attracts buyers for the third consecutive day and climbs to over a one-week high, around the 1.3485 region, during the first half of the European session on Tuesday. The move up is backed by a combination of supporting factors, which backs the case for an extension of the recent bounce from the vicinity of mid-1.3200s, or a three-month trough, touched last week.
US President Donald Trump said on Monday that the US-Israel campaign in Iran may soon come to a conclusion and would be over very soon, boosting investors' confidence and triggering a goodish recovery in the global risk sentiment. This is evident from a positive tone around the equity markets and undermines demand for the safe-haven US Dollar (USD). Read more...
GBP/USD Price Forecast: Eyes 50-day EMA barrier near 1.3500 despite ongoing bearish bias
GBP/USD extends its gains for the third successive session, trading around 1.3480 during the early European hours on Tuesday. The pair holds a mildly bearish short-term bias as price sits just below the 50-day Exponential Moving Average (EMA) while remaining above the faster nine-day moving average, which has turned lower and tracks the recent series of lower highs.
Additionally, the technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern. Momentum signals confirm fading upside pressure, with the 14-day Relative Strength Index (RSI), a momentum indicator, recovering from near-oversold territory but still holding below the 50 line, indicating that bounces remain corrective within a softening daily structure. Read more...
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