Pound Sterling Price News and Forecast: GBP/USD rising from the hangover? [Video]
|GBP/USD calls for a bullish reversal near 1.3670 support [Video]
GBP/USD could be due for an upside correction following the stabilization near the key 1.3670 support region. Even though the new bearish cross between the 20- and 50-day simple moving averages (SMAs), which is the first since September, suggests the continuation of the short-term downtrend, the RSI is regaining ground towards its 50 neutral levels. Meanwhile, the Stochastics have already set up a bullish cross below the 20 oversold mark, signaling a pickup in positive momentum. Read more...
GBP/USD Forecast: Rising from the hangover? Not so fast, as vaccine issues grip markets
After 97 days, Brits got back to their beloved pubs – and sterling now suffers a hangover, albeit from different reasons. US authorities have asked to pause the administration of Johnson & Johnson's single-shot vaccines, dealing a blow to America's immunization drive. The move came after six women developed blood clots and despite the fact that nearly seven million people received the shot. Markets have turned down and the safe-haven dollar is rising.
Thrombosis – as blood clots are also known – has been dogging AstraZeneca's jabs that are in wide use in Britain and the news may trigger people to hesitate with inoculations. One of the pound's positive drivers has been the UK's successful vaccination campaign, with doses now offered to people 45 and older. Read more...
GBP/USD: Sterling to pay attention to Scottish elections just before the vote – TDS
The next Scottish parliamentary election is coming up on 6 May, in just over three weeks. So far, at least, the FX market has been content to ignore the potential risks of Scotland's upcoming election. With investors still focused on the pandemic recovery, economists at TD Securities think sentiment has grown more resilient against these shocks. That can change quickly, however, if the underlying political dynamic begins to shift in the final days of the campaign.
“Recent polling suggests that it's nearly a certainty that the SNP will be the largest party, and is on the cusp of winning a majority mandate. But even if the SNP underperforms at the polls, it will still be able to form a substantial pro-independence majority with the support of the Greens and possibly Alba.” Read more...
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