Pound Sterling Price News and Forecast: GBP/USD soars above 1.3400 [Video]
|GBP/USD soars above 1.3400 as threat to Fed’s independence batters US Dollar
The GBP/USD pair rallies to near 1.3400 during European trading hours on Monday, the highest level seen in seven months. The Cable strengthens as the US Dollar (USD) has been battered by the threat to the Federal Reserve’s (Fed) independence after United States (US) President Donald Trump.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is down over 1% to a fresh three-year low near 98.00. Read more...
GBP/USD Forecast: Pound Sterling could face next resistance at 1.3430
GBP/USD extends its uptrend to start the week and trades at its highest level since September near 1.3400. The pair could face stiff resistance at 1.3430.
Following the long weekend, the US Dollar (USD) comes under a strong selling pressure on Monday as the US-China trade conflict shows no signs of de-escalation anytime soon. Read more...
GBP/USD Elliott Wave technical analysis [Video]
The GBPUSD daily chart displays a clear trending pattern using the Elliott Wave theory. Currently, the currency pair is moving within navy blue wave 1, part of the broader gray wave 1. This positioning indicates the beginning of a new impulse wave, which could gain momentum in upcoming sessions. The structure suggests this is the first wave in what might develop into a complete five-wave impulse pattern across current and higher timeframes. Read more...
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