Pound Sterling Price News and Forecast: GBP/USD directionless mode extends, awaiting fresh signal
|GBP/USD bears keep reins under 1.2200 with eyes on BOE’s Bailey, Fed’s Powell
GBP/USD dribbles around the weekly low of 1.2180, after declining the most over a week, as sellers take a breather ahead of the key data/events. However, pessimism surrounding Brexit, economic slowdown and inflation woes keep the downside bias intact. US Core PCE, Final reading of Q1 GDP may entertain traders ahead of key discussions at the ECB Forum.
GBP/USD outlook: Directionless mode extends, awaiting fresh signal
Cable enters the US session on Monday in red after short-lived rally, inspired by renewed risk mode, pushed the price to a ten-day high in early European trading. The price remains within the range which extends into sixth consecutive day, defining near-term price action as directionless, capped by daily Kijun-sen and supported by daily Tenkan-sen, after the action repeatedly failed to register a clear break on either side.
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