Pound Sterling Price News and Forecast: GBP/USD getting mixed clues from Brexit
|GBP/USD Price Analysis: 100-bar SMA guards immediate upside towards 1.2900
GBP/USD picks up bids around 1.2865/70 during the early Wednesday. The pair recently gained from the USD weakness during the first face-off between US President Donald Trump and his election rival Joe Biden.
Even so, buyers are waiting for a clear break above the 100-bar SMA level of 1.2865 to attack the 1.2900 threshold. Also acting as an immediate upside barrier is the weekly top near 1.2930. Should the bulls manage to conquer 1.2930, September 16 peak close to the 1.30000 psychological magnet will be the key to watch.
GBP/USD Forecast: Getting mixed clues from Brexit, negative rates
The GBP/USD pair has held at the higher end of its latest range, with a limited bullish potential. Hopes for a Brexit trade deal maintained the Pound afloat, as representatives from the EU and the EU have said that a trade deal is still possible. Still, no progress has been officially reported. The UK currency suffered a setback with BOE Governor Bailey’s comments, as he said that the central bank is not out of ammunition when it comes to additional QE. He also said that policymakers have “not ruled out using negative interest rates but are realistic about challenges from banking retail deposits.”
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