Pound Sterling Price News and Forecast: GBP/USD moves above the 1.2500 level while recovering recent losses
|GBP/USD Price Analysis: Aims to revisit two-month highs, hovers above 1.2500
GBP/USD retraces recent losses registered in the previous session, trading higher around 1.2500 psychological level during the Asian session on Thursday.
The technical indicators for the GBP/USD pair are signaling a bullish outlook. The 14-day Relative Strength Index (RSI) above the 50 level indicates upward support, suggesting a bullish momentum in favor of the pair. Read more...
GBP/USD attempts to regain ground, hovers around 1.2500
GBP/USD strives to bounce back after its three-day winning streak paused in the previous session, trading marginally higher around 1.2500 during the Asian session on Thursday. The pair faced challenges in the previous session, influenced by the strengthened US Dollar (USD) following economic data releases from the United States (US). Investors seem to perceive persistent inflation in the US, coupled with a decelerating economy.
The US Dollar Index (DXY) retreats after hitting gains for two successive days, bidding lower around 103.70 at the time of writing. The Greenback continued its correction after releasing moderate US economic data but was losing momentum amid higher equity prices. Read more...
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