Pound Sterling Price News and Forecast: GBP/USD Finds support near-overnight swing lows
|GBP/USD Forecast: Buy the dip? Sterling well-positioned to attack 1.40 on the next market upswing
Post-pandemic bloom or virus gloom? That is the question grappling markets as optimism about a vaccine-led recovery in the Western world contradicts horrific figures in India. Wednesday's stocks rally weighed on the safe-haven dollar while the worrying news from India is boosting the greenback.
US Treasury yields rise from a six-week low has also kept the dollar bid. Will it last? The focus may easily shift back America's economic boom, especially if US jobless claims refrain from leaping back to the previous higher. The decrease from levels above 700,000 to 576,000 last week was a welcome surprise and economists expect a consolidation of this improvement. Read more...
GBP/USD Price Analysis: Finds support near-overnight swing lows, around 38.2% Fibo
The GBP/USD pair struggled to capitalize on its early positive move, instead met with some fresh supply near mid-1.3900s and turned lower for the third consecutive session. The intraday downfall dragged the pair back below the 1.3900 mark, closer to the overnight swing lows during the first half of the European session.
Renewed fears about another dangerous wave of coronavirus infections in some countries continued weighing on investors' sentiment. Apart from this, a goodish intraday bounce in the US Treasury bond yields provided a modest lift to the US dollar, which, in turn, was seen as a key factor exerting pressure on the GBP/USD pair. Read more...
GBP/USD set to tackle 1.40, the fundamental picture remains favorable for cable bulls
GBP/USD has been hovering around 1.3950 as markets are torn by mixed virus developments. According to FXStreet’s Analyst Yohay Elam, Sterling is well-positioned to attack 1.40 on the next market upswing.
“US Treasury yields rise from a six-week low has also kept the dollar bid. Will it last? The focus may easily shift back America's economic boom, especially if US jobless claims refrain from leaping back to the previous higher. The decrease from levels above 700,000 to 576,000 last week was a welcome surprise and economists expect a consolidation of this improvement.” Read more...
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