Pound Sterling Price News and Forecast: GBP/USD holds lower ground within monthly trading range
|GBP/USD sellers attack 1.4100 amid UK’s unlock delay, Brexit woes
GBP/USD begins the week mostly unchanged around 1.4110 during the initial Asian session on Monday. In doing so, the cable seems to pay a little heed to the recent price-negative headlines concerning the Brexit and an extension to the date of lifting major coronavirus (COVID-19) activity restrictions. Even so, the cable remains pressured amid broad US dollar strength and downbeat UK news.
GBP/USD Forecast: Brexit tensions and reopening delays to hit the pound
The GBP/USD pair edged lower on Friday but held above the weekly low at 1.4072 and settled a few pips above the 1.4100 mark. Broad dollar’s strength coupled with softer-than-anticipated UK data to send the pair lower, exacerbated by Brexit and coronavirus jitters. The kingdom published April Industrial Production, which contracted by 1.3% MoM and Manufacturing Production for the same month, which was down by 0.3%. The monthly Gross Domestic Product increased by 2.3%, below the 2.4% expected.
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