Pound Sterling Price News and Forecast: GBP/USD reclaims 1.2200 despite risk aversion as the US Dollar tumbles
|GBP/USD reclaims 1.2200 despite risk aversion as the US Dollar tumbles
The British Pound (GBP) turned positive despite overall risk aversion triggered by China’s exports weakening. Additionally, the latest headlines involving Russian President Vladimir Putin, saying that “the threat of nuclear war is increasing,” bolstered the US Dollar (USD), giving another leg-down to the GBP/USD pair. Nevertheless, the Sterling has recovered, and the GBP/USD is trading at 1.2215, above its opening price, after reaching a high of 1.2226. Read more...
GBP/USD Forecast: Pound Sterling needs to reclaim 1.2200 to attract bulls
GBP/USD has gone into a consolidation phase at around 1.2150 mid-week after having registered modest losses on Monday and Tuesday. In case the pair rises above 1.2200 and starts using that level as support, additional buyers could come into play and open the door for another leg higher. The risk-averse market atmosphere helped the US Dollar outperform its rivals on Tuesday and caused GBP/USD to continue to push lower. Early Wednesday, US stock index futures are little changed on the day and the UK's FTSE 100 Index is moving sideways near Tuesday's closing level, pointing to a neutral market mood. Read more...
GBP/USD climbs to fresh daily high, around 1.2175-80 area amid modest USD weakness
The GBP/USD pair shows some resilience below a technically significant 200-day Simple Moving Average (SMA) and attracts some buyers near the 1.2100 mark on Wednesday. The intraday uptick pushes spot prices to a fresh daily high, around the 1.2175-1.2180 region during the mid-European session, though any meaningful positive move seems elusive. Read more...
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