Pound Sterling Price News and Forecast: GBP/USD bears have moved in as the US dollar firms

FXStreet Team FXStreet

GBP/USD Price Analysis: bears stepping with eyes on 1.32 the figure

GBP/USD was pressured throughout the month of Novermber and there remains a focus on the downside as the DXY firms in the open taking out hourly resistance. The pound has made a 38.2% Fibonacci retracement and printed a tweezer top on the hourly chart. The price is breakin gthe trendline support and testing the horizontal support at the time of writing.

GBP/USD Weekly Forecast: Another dollar surge? US inflation could outweigh Omicron, UK GDP

Time to retire "transitory" – these hawkish words by Federal Reserve Chair Jerome Powell when referring to inflation have served as the tiebreaker in favor of the dollar. Fears of the Omicron covid variant have been intermixed with hope that it isn't as scary as initially thought. Apart from the virus, US inflation and UK GDP stand out.

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