Pound Sterling Price News and Forecast: GBP/USD sits near daily high
|GBP/USD Forecast: Not out of the woods yet, descending channel breakdown in play
The GBP/USD pair attracted some buying in the vicinity of the 1.3200 mark on the first day of a new week and reversed a part of Friday's losses. The intraday uptick pushed the pair back above mid-1.3200s during the early part of the European session and was supported by a positive Brexit-related development. The UK granted a new batch of licenses for French ships seeking to work in British waters. The move was seen as a sign of progress on a broader trade agreement, which, in turn, provided a modest lift to the British pound. That said, a combination of factors might keep a lid on any meaningful gains for the major. Read more...
GBP/USD sits near daily high, lacks bullish conviction and remains below 1.3300
The GBP/USD pair continued gaining traction through the mid-European session and shot to a fresh daily high, around the 1.3285 regions in the last hour.
Having defended the 1.3200 mark, the GBP/USD pair witnessed some short-covering move on the first day of a new week and reversed a major part of Friday's decline back closer to the YTD low. The UK's move to gran a new batch of licenses for French ships seeking to work in British waters was seen as a sign of progress on a broader trade agreement. This, in turn, was seen as a key factor that extended some support to the British pound. Read more...
GBP/USD consolidates in a range, holds comfortably above 1.3200 mark
The GBP/USD pair now seems to have entered a bearish consolidation phase and was seen oscillating in a narrow trading band, around the 1.3230-35 region through the Asian session.
The pair managed to defend the 1.3200 mark and attracted some buying on the first day of a new week, though the attempted recovery lacked any follow-through amid renewed US dollar strength. As investors' looked past Friday's mixed US NFP report, the USD was back in demand and remained well supported by the prospects for a faster policy tightening by the Fed. Read more...
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