Pound Sterling Price News and Forecast: GBP/USD modest recovery, further gains unclear
|GBP/USD approaches 1.3700 as the US dollar drops further
The GBP/USD rose further during the American session and printed a fresh daily high at 1.3694. Cable is hovering around the daily high with the positive tone intact, on the back of a sharp correction of the US dollar. The greenback accelerated the decline during the last hours as equity prices rose further. In Wall Street, the Dow Jones is up by 0.80%, and the Nasdaq gains 0.50%. Higher US yields are not helping the dollar so far. The US 10-year yield is up 5% at 1.28%. Read more...
GBP/USD Forecast: Modest recovery, further gains unclear
The GBP/USD pair holds on to gains as Tuesday’s trading comes to an end, after reaching an intraday high of 1.3722. The pair advanced as the market’s mood improved, to the detriment of the American currency. The macroeconomic calendar was scarce in the UK, as the country published June Publish Sector Net Borrowing, which came in at £22.02 billion, better than expected. Read more...
GBP/USD Forecast: Selling opportunity? Dead-cat bounce leaves critical support in danger
Every trend has a countertrend – yet if the move in the opposite direction has no justification, it could prove short-lived. GBP/USD has bounced off the fresh five-month low of 1.3570 as the dollar has taken a break from gains. The greenback is falling as Treasury yields rise – a change in correlation. It seems that demand for bonds and the dollar are now linked. Read more...
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