Pound Sterling Price News and Forecast: GBP/USD mounting pressure hints another leg south
|GBP/USD Forecast: Perky pound has three reasons to rise taking a peek at highest since 2018
GBP/USD has been edging higher amid hopes of an accelerated UK vaccination campaign. The Bank of England is edging closer to a rate hike, and the Governor could add fuel to the fire. A drop in US inflation expectations could hit the dollar. First a false break, then the real thing? GBP/USD has surpassed the previous 2021 peak of 1.4240, taking a peek at the highest since 2018, reaching 1.4250 before falling back to range. While the failure to hold onto the highs may embolden bears, cable has three reasons to rise. Read more...
GBP/USD Forecast: Mounting pressure hints another leg south
The British Pound was the worst performer this Tuesday, as GBP/USD fell from an early high at 1.4228, a fresh two-year high, to as low as 1.4154, ending the day near the latter. The decline was triggered by a downward revision of the UK Markit Manufacturing PMI, which resulted in 65.6 in May from 66.1. However, the decline continued despite limited buying interest for the greenback. Read more...
GBP/USD bulls shaken-up and out on COVID-19 variant worries
GBP has been a wild ride at the start of the month. Bears are taking back control as the trajectory reverses on COVID-19 concerns. Against the US dollar, sterling has traded between 1.4155 and 1.4250, printing fresh cycle highs in Tokyo before it was slammed by almost 90 pips all the way back to the 10-day EMA as European traders came online. Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.