Pound Sterling Price News and Forecast: GBP/USD looks fragile despite quiet start to week
|GBP/USD Forecast: Pound Sterling looks fragile despite quiet start to week
After reaching its highest level in a year above 1.3000 last week, GBP/USD closed the week in negative territory after declining sharply on Thursday and Friday. The pair stays relatively quiet early Monday but the technical outlook is yet to point to a buildup of recovery momentum.
The risk-averse market atmosphere ahead of the weekend helped the US Dollar (USD) gather strength against its rivals and forced GBP/USD to edge lower. Early Monday, the UK's FTSE 100 Index is up more than 0.5% and US stock index futures trade in positive territory, reflecting an improvement in market mood. In case risk flows dominate the action in financial markets in the second half of the day, the USD could struggle to find demand and allow the pair to edge higher. Read more...
GBP/USD Weekly Forecast: Pound Sterling retreat could open the door for fresh uptrend
The Pound Sterling (GBP) recorded a fresh 12-month high above 1.3000 against the US Dollar (USD) but the GBP/USD pair snapped its two consecutive weekly gains to settle in the red.
Even though monetary policy divergence between the US Federal Reserve (Fed) and the Bank of England (BoE) remained the dominant factor driving the GBP/USD price action, the late comeback by the USD on broad risk aversion spoilt the party for the Pound Sterling. Read more...
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