Pound Sterling Price News and Forecast: GBP/USD steady around 1.3250s amid a positive market-mood
|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 steady around 1.3250s amid a positive market-mood
The British pound continues advancing during the New York session, up some 0.12%, trading at 1.3255 at press time. Market mood has improved throughout the weekend, as data from South Africa points out that the omicron variant is more contagious than alpha and delta; nevertheless, the variant cases have been relatively mild. In the European session, Bank of England’s (BoE) Governor Ben Broadbent said that the tight labor market will add pressure on inflation and expects it to “comfortably exceed” 5% in April of 2022. He further said that he did not know he would vote to raise rates in December but made it clear that UK’s central bank forecasts showed a need for higher rates. Read more...
EUR/USD, GBP/USD analysis & setups [Video]
The GBP/USD is aiming at the next 38.2% Fibonacci retracement level at 1.3150-30. The GBP/USD could make a bullish retracement after hitting 1.3150. The pound could make a bullish retracement after hitting 1.3150. But also the Cable should make a bearish push lower towards 1.30 and 1.28. Read more...
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