Pound Sterling Price News and Forecast: GBP/USD retreats above 1.3900, fades recovery from two-month low
|GBP/USD bulls search fresh clues to cross 100-DMA hurdle
GBP/USD bulls take a breather around 1.3925, following the heaviest rebound in two months, amid Tuesday’s Asian session. The cable pair benefited from the risk-on mood the previous day while the latest inaction could be linked to mixed headlines from the Fed and concerning the UK’s covid conditions, as well as cautious sentiment ahead of the key data/events.
Sterling surge leads FX higher, dollar pauses, stocks rebound
Sterling staged a rebound off mid-April 2021 lows at 1.37844 to 1.3930 NY close. The British Pound had slumped from a high last week at 1.4185 on broad-based USD strength following the FOMC announcement. GBP/USD hit an overnight high at 1.39368.
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