Pound Sterling Price News and Forecast: GBP/USD remains on the front foot around the multi-day top
|GBP/USD teases two-week top past 1.3800, ignores UK tax hike fears, Brexit and coronavirus woes
GBP/USD struggles between the US dollar weakness and the recently downbeat catalysts for the UK around a fortnight high close to 1.3830 during Friday’s Asian session. Alike other major pairs, the cable also cheered the greenback’s fall while refreshing the multi-day top the previous day despite covid and Brexit concerns. The latest challenge is relating to the tax hike proposal from UK Prime Minister Boris Johnson.
GBP/USD Forecast: Ascending triangle signals upward move, why it could be a fakeout
Is everything written in the charts? If so, GBP/USD is on the verge of a significant upside – technical analysis textbooks say that an ascending triangle is a bullish pattern. However, a cross-analysis with other currencies shows that sterling is lagging behind its peers in taking advantage of the dollar's decline.
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