Pound Sterling Price News and Forecast: GBP/USD stands at the front foot ahead of US jobs data
|GBP/USD Forecast: Non-Farm Payrolls set to break the tie between the BOE and Boris' lockdown decision
A pint at the pub? British newspapers seem to spread hope for a substantial easing of the lockdown, yet watering holes will likely remain shuttered for longer. Ministers have urged caution as the COVID-19 curve flattened but has not fallen enough. Prime Minister Boris Johnson will lay out the plans only on Sunday evening and these may weigh on the pound.
Sterling has been lifted by the Bank of England's commitment to do more – with two members already voting to add more Quantitative Easing on Thursday. Andrew Bailey, the BOE Governor, said that expanding the bond-buying scheme in June is undoubtedly an option, and it significantly depends on economic conditions. Read more...
GBP/USD outlook: Cable stands at the front foot ahead of US jobs data
Cable is standing at the front foot in European trading on Friday after Thursday's action ended in Doji candle and signaling that four-day fall might be running out of steam. The lower 20-d Bollinger band contained fall and fresh upside attempts eye pivotal barriers at 1.2414 (30DMA) and 1.2436 (converged 10/20/55DMA's). Firm break here is needed to sideline bears and allow for further recovery. Momentum on daily chart is rising towards the centerlines and stochastic emerged from oversold territory, supporting the notion, as daily cloud continues to underpin.
GBP/USD clings to gains near session tops, bulls eyeing a move beyond 1.2400 mark
The GBP/USD pair traded with a positive bias through the early European session, albeit continued with its struggle to find acceptance above the 1.2400 mark.
Following the previous day's directionless/two-way price action, the pair managed to regain some positive traction on the last trading day of the week and was being supported by the prevalent US dollar selling bias. Read more...
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