Pound Sterling Price News and Forecast: GBP/USD suffers from vaccine setback [Video]
|GBP/USD Elliott Wave view: Sellers should remain in control [Video]
Short term Elliott wave view in GBPUSD suggests that the cycle from February 24, 2021 peak is unfolding as a double three structure. While the initial decline to March 25, 2021 low ended wave ((W)) at $1.3668 low. Up from there, the pair made a recovery in wave ((X)) bounce to correct the cycle from the 2/24/2021 peak. The internals of that bounce unfolded as Elliott wave zigzag structure where wave 1 of (A) ended at $1.3731 high. Wave 2 ended at $1.3690 low, wave 3 ended at $1.3813 high, wave 4 ended at $1.3754 low, and wave 5 ended at $1.3847 high thus completed the first leg of the bounce in wave (A). Read more...
GBP/USD Forecast: Sterling suffers from vaccine setback, Fed may help it stabilize
"A course change" – is how UK officials have described the decision to deprioritize using AstraZeneca's jab for those under 30. While Britain is ahead in vaccinating its population against COVID-19, fear that AZ's immunizations may cause blood clots may put off some people from this inoculation and perhaps others.
Sterling has been on the back foot after the separate announcements from both British and EU regulators that there is a link between rare thrombosis cases and the jab. Nevertheless, even though there were only around 80 incidents per 20 million people in Britain – a 1 to 250,000 chance of a clot, concerns are taking over. Read more...
GBP/USD Outlook: Seems poised to retest multi-week lows/100-DMA near 1.3670 area
The GBP/USD pair extended its sharp retracement slide from two-week tops and witnessed some heavy selling for the second consecutive session on Wednesday. The downward momentum was sponsored by a combination of factors and dragged the pair to a one-week low level of 1.3724. The UK's medical regulator on Wednesday issued a temporary ban on the AstraZeneca vaccine for the below 30 age group. This could effectively delay the government's plan to reopen the economy, which, in turn, was seen as a key factor weighing on the British pound. Read more...
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