Pound Sterling Price News and Forecast: GBP/USD – Expected to rise to 1.3300
|GBP/USD: Expected to rise to 1.33000 – UOB Group
The Pound Sterling (GBP) is expected to rise to 1.3300, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
24-HOUR VIEW: "On Wednesday, GBP surged to a high of 1.3245. Yesterday, we indicated that 'while the sharp advance appears excessive, there is scope for GBP to rise to 1.3270 today, potentially testing the major resistance at 1.3300'. We added that 'support levels are at 1.3215 and 1.3180'. GBP then rose to 1.3269, pulled back to a low of 1.3210 before closing largely unchanged at 1.3238 (-0.03%). GBP has likely moved into a consolidation phase, and today we expect GBP to trade in a range of 1.3220/1.3270." Read more...
GBP/USD regains footing, but underlying doubts persist
The GBP/USD pair is edging higher, trading around 1.3239, following a pause in its five-day rally. While the pair has returned to positive territory, investor focus has shifted to the underlying health of the UK economy and the credibility of the newly announced budget measures.
The fundamental headwinds for sterling remain significant. Weak growth prospects, stubbornly low productivity, and persistent inflationary pressures continue to cap the currency's long-term potential. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.