Pound Sterling Price News and Forecast: GBP/USD remains muted
|GBP/USD remains defensive below 1.3850, UK job data eyed
GBP/USD extends the previous day’s sluggish momentum and trades quietly on Tuesday morning. After testing the high of 1.3888 on Friday, the pair continued to remain submissive near 1.3850.
The sterling has been influenced by a combination of other factors ranging from risk appetite to covid and Brexit headlines, despite the surprise call from the Bank of England (BOE).
GBP/USD Price Analysis: 200-DMA defends bulls inside triangle, UK employment eyed
GBP/USD repeats the old tunes above 1.3800, remains sidelined around 1.3840 during Tuesday’s Asian session. In doing so, the cable pair seesaws inside a seven-week-old symmetrical triangle.
It should be noted, however, that the quote ability to stay above 200-DMA as it inches closer to the breakout keeps buyers hopeful. Also backing the upside hopes is the firmer Momentum line.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.