Pound Sterling Price News and Forecast: GBP/USD slips below 1.4100 mark, fresh session lows [Video]
|GBP/USD aims for rebound but bearish risks linger [Video]
GBPUSD remains resilient within a sideways channel and around the 1.4100 level, where the 23.6% Fibonacci of the latest upleg also resides (1.3668 – 1.4248). The recent soft dwindle below the 20-day simple moving average (SMA) and the blue Kijun-sen line favors a negative extension towards the important long-term ascending trendline and the 50-day SMA, both converging to the 38.2% Fibonacci of 1.4026. Read more...
GBP/USD slips below 1.4100 mark, fresh session lows
The GBP/USD pair retreated around 35 pips from the early European session highs and refreshed daily lows, below the 1.4100 mark in the last hour.
The pair struggled to capitalize on its intraday positive move, instead met with some fresh supply near the 1.4130 region and was pressured by a combination of factors. The UK government's decision to delay the final stage of easing lockdown measures acted as a headwind for the British pound. In fact, UK Prime Minister Boris Johnson pushed back the timeline to end restrictions fully to July 19 from June 21. Read more...
GBP/USD Forecast: Boris' conditional delay, upbeat vaccine news may help sterling recover
"Now is the time to ease off the accelerator" – Prime Minister Boris Johnson has announced a four-week delay in England's last reopening stage, to the dismay of some of the press. The PM took the decision in response to the rapid spread of the Delta COVID-19 variant, which is already causing an increase in hospitalizations. However, not all the news is bad.
First, Johnson provided some hope for a quicker reopening, before the current July 19 deadline. Secondly, the government is accelerating its vaccination campaign even further, and that should bear fruits relatively quickly. Read more...
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