Pound Sterling Price News and Forecast: GBP/USD has turned sideways after a strong rebound
|GBP/USD Price Analysis: Inside candle favors a pullback, 1.1000 a key hurdle
The GBP/USD pair has turned sideways after a strong rebound from a fresh multi-decade low of 1.3565 on Monday. The cable is displaying back-and-forth moves in a range of 1.0661-1.0832 and is displaying a volatility contraction phase. This could result in a further decline in the asset as institutional investors might be distributing more inventories.
GBP/USD: The pound remains vulnerable
The reasons for the recent pound's sell-off are still on the table, so the currency remains extremely vulvnerable according to analysts at Rabobank. They point out the risk of GBP/USD hitting parity has firmed up. “There has been a loose discussion in the market about the prospect of GBP/USD hitting parity for some months.
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.