Pound Sterling Price News and Forecast: GBP/USD levels to watch are 1.2600 and 1.2655
|GBP/USD: Levels to watch are 1.2600 and 1.2655 – UOB Group
There appears to be enough momentum for Pound Sterling (GBP) vs US Dollar (USD) to rise further, but any advance is likely part of a higher 1.2480/1.2600 range. In the longer run, sharp increase in momentum is likely to lead to further GBP strength; the levels to watch are 1.2600 and 1.2655, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
24-HOUR VIEW: "Following Wednesday’s price movements, we noted yesterday (Thursday) that 'there has been no increase in either downward or upward momentum.' We expected GBP to 'trade in a range between 1.2390 and 1.2490.' Read more...
GBP/USD Forecast: Pound Sterling shows no signs of slowing down
GBP/USD preserves its bullish momentum and trades at its highest level since late December near 1.2600. Although the pair's near-term technical outlook points to overbought conditions, investors could refrain from betting on a deep correction unless there is a significant negative shift in risk mood.
The US Dollar came under heavy selling pressure in the American session on Thursday and opened the door for a leg higher in GBP/USD as risk flows dominated the action in financial markets. US President Donald Trump refrained from announcing new reciprocal tariffs on Thursday, instead he explained that he tasked his economics team to devise a plan for reciprocal tariffs on every country that charges duties on US imports, triggering a risk rally. Read more...
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