Pound Sterling is yet to clear key 1.2550 hurdle

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling buyers hesitate as key level stays intact

GBP/USD came within a touching distance of 1.2600 but erased a large portion of its daily gains in the late American session on Monday. The pair edges slightly lower in the early European session on Tuesday and was last seen trading a few pips below 1.2550.

Improving risk mood made it difficult for the US Dollar (USD) to find demand on Monday. During the American trading hours, however, comments from Federal Reserve officials helped Treasury bond yields rebound and allowed the USD to stay resilient against its rivals. Read more...

GBP/USD Forecast: Pound Sterling is yet to clear key 1.2550 hurdle

GBP/USD closed the previous week marginally higher and seems to have stabilized at around 1.2550 to start the new week. The pair needs to confirm 1.2550 as support to continue to push higher in the near term.

The US Dollar (USD) came under heavy selling pressure in the early American session on Friday with the immediate reaction to disappointing data releases for April. Heading into the weekend, however, hawkish comments from Federal Reserve (Fed) officials helped the currency erase its losses and forced GBP/USD to retrace its daily rally. Read more...

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FXStreet Team

FXStreet

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