Pound Sterling Price News and Forecast GBP/USD: Nice comeback from multi-month lows
|GBP/USD bulls take on the bears and eye 1.40 area and BoE
GBP/USD bulls are back in town and target the 1.40 are. All eyes are not on the bank of England and the interest rate decision. GBP/USD is trading at 1.3930 and up nearly 1% having climbed from a low of 1.3786 to a high of 1.3934. The pound has recovered from its lowest level versus the dollar since April as the greenback corrects after the US Federal Reserve surprised the market with a hawkish hold last Wednesday. Read more...
GBP/USD Forecast: Nice comeback from multi-month lows
The GBP/USD pair trades near a daily high of 1.3934, recovering from a fresh monthly low of 1.3785. The pound rallied despite comments from UK Prime Minister Boris Johnson, who said that cases of the coronavirus Delta variant are still going up, adding that they need to be cautious on easing restrictions. He added that data is looking good ahead of the July 19 deadline, although noting that traveling will be “difficult.” Read more...
GBP/USD Forecast: Bearish bias remains, 100-DMA should cap the attempted recovery
The GBP/USD pair staged a goodish rebound from two-month lows and maintained its bid tone through the first half of the European session on Monday. The pair, for now, seems to have stalled its recent sharp pullback from multi-year tops and was supported by a modest US dollar pullback. As investors digested last week's hawkish FOMC surprise, an extension of the recent decline in the US Treasury bond yields prompted some profit-taking around the buck. Read more...
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