Pound Sterling Price News and Forecast: GBP/USD further downside hinges on 1.2100 break
|GBP/USD Forecast: Pound Sterling bulls struggle to retain control
GBP/USD has lost its traction and retreated below 1.2200 in the early European morning on Thursday after having registered modest gains on Wednesday. The near-term technical outlook suggests that the pair is having difficulty turning bullish. In the absence of high-impact data releases, GBP/USD is likely to react to changes in risk mood. Nevertheless, investors are unlikely to commit to large positions ahead of next week's highly-anticipated Bank of England and Federal Reserve policy meetings. Read more...
GBP/USD Price Analysis: Further downside hinges on 1.2100 break
GBP/USD renews its intraday low near 1.2180 as it braces for the first weekly loss in five during early Thursday. In doing so, the Cable pair defends the bears by trading below a one-week-old descending resistance line, as well as inside a one-month-old rising wedge bearish chart formation.
That said, the downbeat signals from the MACD indicator also add strength to the bearish bias. Read more...
GBP/USD consolidates in a range around 1.2200 mark as traders await fresh catalyst
The GBP/USD pair struggles to capitalize on the overnight recovery from the 1.2100 neighbourhood, or the weekly low and oscillates in a range through the early European session on Thursday. The pair is currently trading around the 1.2200 round-figure mark, nearly unchanged for the day. Read more...
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