Pound Sterling Price News and Forecast: GBP/USD to extend its advance once above 1.3710/50
|GBP/USD outlook: Cable establishes above 1.36 pivot, additionally supported by upbeat UK Retail Sales
Cable maintains firm tone and stays above broken 1.3600 barrier in early Friday, extending advance into fourth straight day and on track for the third consecutive bullish weekly close.
Pound remains underpinned by expectations of BoE rate hike, while better than expected UK retail sales data showed strong recovery from the knock of latest wave of Omicron variant in December, when many shops were closed and provided fresh boost to sterling. Read more...
GBP/USD to extend its advance once above 1.3710/50 – SocGen
GBP/USD registered gains for three straight days before turning calm above 1.3600. A break above 1.3710/1.3750 would open up further gains, economists at Société Générale report.
“A test of the neckline at 1.3710/1.3750 is likely. Overcoming this would denote an extended upmove.” Read more...
GBP/USD to enjoy considerable gains on a break above key 1.3640 resistance
GBP/USD has managed to edge higher early Friday after having closed the previous three days in the positive territory. As FXStreet’s Eren Sengezer notes, cable approaches resistance that holds the key for further gains.
“Profit-taking could limit GBP/USD's upside in the second half of the day but the pair's near-term outlook remains bullish barring a technical correction.” Read more...
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