Pound Sterling Price News and Forecast: GBP/USD regroups from fresh bear cycle lows driven by Downing Street
|GBP/USD regroups from fresh bear cycle lows driven by the woes of Downing Street
At 1.1928, GBP/USD is under water slightly, bleeding by 0.11% at the time of writing after sliding from a high of 1.1989 to a low of 1.1875 on the day so far and in the aftermath of yesterday's resignations of members of the Conservative party. GBP/USD holds near the lows of the week due to political turmoil. The BoE bets are being placed and weighed against Borish Johnson's survival rate and Brexit woes. Read more...
GBP/USD Forecast: Difficult to bet on a steady pound recovery
GBP/USD has recovered toward 1.2000 in the early European morning following Tuesday's steep drop but failed to preserve its momentum. The political drama in the UK and growing recession fears should continue to weigh on the pair in the near term. Read more...
GBP/USD: Picking the bottom is risky business
GBP/USD is closer to 2016 flash crash levels than ever before. At the time of writing, the pair was down by -1.61% so far this week to trade at 1.1895. That’s not too far from its weekly low of 1.1876. Circumstances today, however, are very different than they were during the flash crash. GBP/USD’s fall from its 21 May 2021 high of 1.4250 has been anything but accidental. The political chaos in Westminster this week is just the latest act in what has been a drawn out tragedy for the UK economy in 2022. Fears of global recession haven’t helped the British pound either. Read more...
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