Pound Sterling Price News and Forecast: GBP/USD reaches 1.3800 level
|GBP/USD Forecast: Dominant dollar sends sterling below critical support, levels
A new month, a fresh blow to sterling – Markit's UK Manufacturing Purchasing Managers' Index for June has been downgraded to 64.9 points from the original read of 64.2, adding to already existing pressure on the pound.
The greater worry is the ongoing spread of the Delta variant of coronavirus, which may still derail the already delayed reopening due on July 19 – and could have a further negative impact later in the year. Britain's vaccination efforts – which drastically decrease severe disease – continue at full speed, but the tide has yet to turn in the number of infections. Read more...
GBP/USD analysis: Reaches 1.3800 level
The decline of the GBP/USD has reached the 1.3800 level, which provided support for a retracement back up to the 1.3840 level. During the early hours of Thursday's trading, the pair fluctuated between the mentioned levels.
In the near term future, the rate could either trade sideways between the mentioned levels or make a move up or down. Read more...
GBP/USD outlook: Bears accelerate on dovish comments from BoE's Governor Bailey
Cable continues to travel south for the sixth straight day and hit 11-week low on Thursday after dovish tone from BoE Governor Bailey’s speech accelerated bears.
Fresh weakness broke through pivotal support at 1.3786 (June 21 low) completing failure swing pattern on daily chart and signaling continuation of larger downtrend from 1.4249 (2021 high of June 1). Read more...
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