Pound Sterling Price News and Forecast: GBP/USD near-term bullish outlook remains intact
|GBP/USD Price Analysis: Extends the advance to retest 50-DMA at 1.3720
GBP/USD is looking to extend the advance 1.3700 amid the risk-on market mood, as traders shrug off the rebound in the US Treasury yields and fresh Brexit concerns.
The UK-French tussle extends over the post-Brexit transition rights, as France’s Finance Minister Bruno Le Maire calls for more investment into localized supply chains, blaming the Kingdom for making the supply chain crisis worse. Read more...
GBP/USD Forecast: Near-term bullish outlook remains intact
The GBP/USD pair failed to make a daily close above 1.3700 on Thursday but buyers are not discouraged as the pair seems to have regathered its bullish momentum on Friday. At the time of press, GBP/USD was trading at its highest level in three weeks above 1.3730.
After the European Union unveiled the proposed changes to the Northern Ireland protocol this week, Maroš Šefčovič, European Commission Vice President, and David Frost, the British minister responsible for implementing the Brexit deal, will meet in Brussels on Friday. Read more...
GBP/USD renews multi-week highs above 1.3750, eyes on US data
After posting small daily gains on Thursday, the GBP/USD pair regathered bullish momentum in the early trading hours of the European session on Friday and reached its strongest level since September 17 at 1.3758. As of writing, the pair was up 0.6% on the day at 1.3755.
The risk-positive market environment ahead of the weekend seems to be helping GBP/USD push higher. Reflecting the upbeat market mood, the UK's FTSE Index is up 0.3% on the day and the US stocks futures are up between 0.3% and 0.45% ahead of Wall Street's opening bell. Read more...
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