Pound Sterling Price News and Forecast: GBP/USD regained traction after Friday's nearly 1% fall
|GBP/USD Forecast: Dead cat bounce? Boris' problems and US economic strength may trigger more falls
Is this rise a GBP/USD selling opportunity? Even a dead cat bounces when it falls on the floor – and that pattern is what may be developing on the charts. US Treasury yields and especially returns on the benchmark 10-year bonds are dropping and dragging the dollar down with them. However, these falls are limited.
The greenback is backed by a robust US economy that is moving at full speed. After Thursday's Gross Domestic Product figures showed an upbeat annualized expansion rate of 6.4%, Personal Income and Personal Spending statistics from March showed a leap that beat estimates. Read more...
GBP/USD outlook: Cable regained traction after Friday's nearly 1% fall, BoE eyed for fresh signals
Cable bounces from a two-week low (1.3800) posted after last Friday’s strong bearish acceleration that resulted in daily drop of 0.94% (the biggest one-day loss in 2021).
Fresh strength in the holiday-thinned market is partially attracted by this week’s daily cloud twist reduces immediate downside risk, although Friday’s massive bearish candle weighs. Daily techs lack clearer signals as moving averages are in mixed mode, 14-d momentum is ascending, stochastic is heading south, while RSI is in sideways mode in the neutral territory. Read more...
GBP/USD jumps back closer to mid-1.3800s, fresh session tops
The GBP/USD pair rallied around 45 pips during the early European session and refreshed daily tops, around the 1.3845 region in the last hour.
The pair staged a goodish rebound from the 1.3800 mark, or two-week lows touched earlier this Monday and has now recovered a part of the previous session's heavy losses. The uptick was exclusively sponsored by the emergence of some selling around the US dollar, though the UK political jitters might cap the upside for the GBP/USD pair. Read more...
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