Pound Sterling Price News and Forecast: GBP/USD to edge lower before rebounding later in 2022
|GBP/USD outlook: Recovery likely to be limited but formation of weekly hammer warns
Cable gained traction in early Thursday and edges above 1.33 mark, after spike to new 2021 low (1.3194) was short-lived.
Larger bears faced strong headwinds at 1.3275/50 zone Fibo 61.8% of 1.2675/1.4249 upleg/weekly cloud base), with hammer forming on a weekly chart that could be an initial positive signal. Read more...
GBP/USD to edge lower before rebounding later in 2022 – MUFG
The pound depreciated against the dollar in November although held up relatively well in response to the increased uncertainty related to the new Omicron covid variant. Economists at MUFG Bank expect the GBP/USD pair to move downward in the first months of next year before staging a bounce later in 2022. Read more...
GBP/USD edges higher to 1.3325 area, lacks follow-through
The USD witnessed some selling during the early part of the European session and pushed the GBP/USD pair to a fresh daily high, around the 1.3325 regions in the last hour.
The pair attracted fresh buying near the 1.3265 area on Thursday and for now, seems to have snapped three consecutive days of the losing streak. The uptick was exclusively sponsored by some US dollar weakness, though any meaningful recovery still seems elusive. Read more...
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