Pound Sterling Price News and Forecast: GBP/USD holds onto recovery moves from yearly low
|GBP/USD ignores Brexit, Omicron woes past 1.3300, UK/US data, BOE’s Bailey eyed
GBP/USD picks up bids to refresh intraday top around 1.3325 heading into Wednesday’s London open. The cable pair refreshed yearly low on Tuesday before closing November with static daily performance and the heaviest monthly fall since last September. The cable pair traders initially feared the South African variant of the coronavirus, dubbed as Omicron, as the UK’s count of the feared virus strain jumped to 22.
GBP/USD Price Analysis: Tuesday’s Doji need validation from 1.3360
GBP/USD remains sidelined around 1.3300 during Wednesday’s Asian session, after refreshing the 2021 bottom the previous day. The corrective pullback seems to take clues from Tuesday’s bullish Doji candlestick at the multi-day low. However, bearish MACD signals and convergence of the 10-DMA and one-month-old descending trend line, around 1.3360, challenge the bulls.
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