Pound Sterling Price News and Forecast: GBP/USD struggles at 1.3700 amid US dollar weakness across the board
|GBP/USD struggles at 1.3700 amid US dollar weakness across the board
The GBP/USD pair stalls at the 50-DMA retrace below 1.3700. Risk-on market sentiment boosts the GBP undermines the greenback. GBP/USD: The Relative Strength Index above 50, aiming higher, indicates that there could be a leg-up near 1.3800. The GBP/USD retreats from the daily high around 1.3733, advances 0.20% during the New York session, trading at 1.3688 at the time of writing. The British pound could not hold to the 1.3700 level, broke the latter in a counter-trend move, which in 4-hours witnessed a 60 pip drop. Read more...
GBP/USD Forecast: Additional gains likely with daily close above 1.3700
GBP/USD has regained bullish momentum on dollar weakness, Brexit optimism. US Treasury bond yields continue to impact greenback's valuation. A daily close above 1.3700 could bring in additional buyers. The GBP/USD pair broke out of its weekly trading channel on Wednesday and extended its advance to a fresh 15-day high near 1.3700 on Thursday amid dollar weakness and Brexit optimism. Read more...
GBP/USD hits 2-week high on BOE rate hike uncertainty, Bitcoin prices edge closer to $60K
GBPUSD hit a 2-week high in today’s trading session, as markets reacted to comments from a policymaker from the BOE. The Bank of England member Silvana Tenreyro was speaking regarding the potential for a near-term rate hike, due inflation concerns. In her comments Tenreyro stated that, "Typically, for short-lived effects on inflation, such as the big rises in the prices of semiconductors or energy prices, it would be self-defeating to try to respond to their direct effects". Read more...
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