Pound Sterling Price News and Forecast: GBP/USD retains its bullish potential
|GBP/USD Price Analysis: Extends bounce off 200-HMA towards 1.3700
GBP/USD rises to 1.3688, up 0.06% intraday, during Monday’s Asian session. In doing so, the cable keeps Friday’s U-turn from 200-hour moving average (HMA) amid the bullish MACD.
With this, GBP/USD is up for breaking the 1.3700 immediate hurdle whereas Thursday’s high, also the highest since May 2018, around 1.3750, will lure the buyers afterward. During the quote’s sustained rise past-1.3750, April 2018 low near 1.3965 will be the key for GBP/USD bulls.
GBP/USD Forecast: Coronavirus-related concerns limit pound’s bullish potential
The GBP/USD pair retreated on Friday but was able to close the week with gains at 1.3680. The pound was hit by poor UK data, as December Retail Sales were up a modest 0.3% MoM, well below the 1.2% expected. When compared to a year earlier, sales grew 2.9% missing expectations of 4%. Additionally, Public Sector Net Borrowing in the same month increased by more than anticipated to £33.375 billion.
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