Pound Sterling Price News and Forecast: GBP/USD hitting two-year lows
|GBP/USD Price Analysis: Attempts to surpass crucial resistance at 1.2260
The GBP/USD pair is displaying back and forth moves in a narrow range of 1.2236-1.2266 in the early Tokyo session. The asset has been gradually scaling higher after hitting a low of 1.2173 on Friday as risk-perceived currencies found significant interest.
GBP/USD Weekly Forecast: A temporary bottom in place?
The pound battering continued for the fourth straight week, as bears refused to give up. GBP/USD lost more than 200 pips to hit a new two-year low at 1.2157, breaking through several critical support levels. The US dollar emerged the most favored safe haven amid a revival of global growth and inflation fears. Heading into a new week, cable is looking to find a bottom, with all eyes on the US Retail Sales and UK inflation data.
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