Pound Sterling Price News and Forecast: GBP/USD set to slide as good news [Video]
|GBP/USD makes new bullish plans within channel [Video]
GBPUSD extended Friday’s bullish run to a 2½-month high of 1.4157 on Monday but finished the day slightly lower around the closing price from the end of February at 1.4135, which has also been a hurdle during 2018. The RSI has yet to reach the overbought territory and the MACD continues to gain momentum above its red signal line and within the positive area. Therefore, the bulls may not easily walk away in the short term. Read more...
GBP/USD Forecast: Sterling set to slide as good news is already in the price
What goes up, must come down – even for the sake of resuming its gains again. GBP/USD has been fueled by pound-positive news, but a correction had been overdue after the massive rally. The trigger for the downside consolidation is the specter of inflation, which dominates the conversation in financial markets.
Dallas Federal Reserve President Robert Kaplan reiterated his warnings about an overheating US economy, and his words overshadowed that of his colleagues, who repeated the line that rising prices are temporary. Moreover, China's producer prices beat estimates, showing that increases in commodity costs are creeping into other areas of the economy. Read more...
Daily technical and trading outlook – GBP/USD
GBP/USD - 1.4115.. Cable extended its recent winning streak n gained fm 1.3980 to 1.4044 in NZ, price then rallied to a 10-week high of 1.4158 at NY open on w/end ruling UK Tory party election news b4 retreating to 1.4108.
On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven USD's demand following free fall in global stocks. Although cable rallied to 1.3686 on the last trading day of 2020 following a last-minute EU-UK trade deal, then to a near 34-month 1.4241 peak in late Feb, subsequent fall to 1.36 70 in Apr signals top is made n stronger retracement to 1.3566 would be seen. Read more...
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