Pound Sterling Price News and Forecast: GBP/USD surrenders a major part of its intraday gains
|GBP/USD Price Analysis: Recaptures 50-DMA on the road to recovery
GBP/USD is looking to build onto Friday’s rebound from five-week lows of 1.3357 reached last Thursday, as the overall upbeat market mood favors the high-beta currency in the pound.
Collaborating with the upswing in the cable, the US dollar eases from one-and-a-half-year highs against its main peers, as investors take profits off the table ahead of the BOE interest rate decision and US payrolls. Read more...
GBP/USD surrenders a major part of its intraday gains, retreats back to 1.3400 mark
The GBP/USD pair surrendered a major part of its intraday gains and was last seen hovering near the lower end of its daily trading range, just above the 1.3400 mark.
A combination of supporting factors assisted the GBP/USD pair to gain positive traction for the second successive day on Monday and recover further from over one-month low touched last week. The US dollar witnessed some profit-taking from a one-and-half year high amid the continued flattening of the US Treasury yield curve. Read more...
GBP/USD to retest medium-term support at 1.3189/35 – Credit Suisse
GBP/USD continues to essentially hold the “neckline” to the December base at 1.3376 for now. But the broader risk is seen lower for a retest of medium-term support at 1.3189/35, according to economists at Credit Suisse.
“With the USD expected to strengthen further, we look for a sustained move below 1.3376 in due course to clear the way for further weakness to 1.3296 and eventually a retest of medium-term support at 1.3189/35 – the 38.2% retracement of the 2020/2021 uptrend and 2021 lows. We would look for a fresh floor here. Should weakness extend this would warn of a significant break lower with support seen next at 1.2855/29.” Read more...
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