GBP/USD Forecast: Bowling back in business but sterling has reasons to stay stuck in a dark alley
Casons, theaters – and bowling alleys – are among the establishments that will be able to reopen from the weekend in England. That is another step toward returning to normal after the UK suffered the highest death toll in Europe – even after reducing the number of mortalities due to a methodology change.
The pound-positive development is simultaneously marred by another COVID-19-related announcement – Britain will require all those coming from France, the Netherlands, and several other countries to quarantine. Read More...
GBP/USD Analysis: Bulls struggle to find acceptance above 1.3100 mark
The GBP/USD pair gained some strong positive traction on Thursday and recovered further from the key 1.3000 psychological mark, or over one-week lows set in the previous session. The positive move was exclusively sponsored by the prevalent offered tone surrounding the US dollar, which remained depressed in the wake of the impasse over the next round of the US fiscal stimulus. The pair surged past the 1.3100 round-figure mark, albeit struggled to capitalize on the move and ran out of the steam just ahead of the weekly tops.
Data released from the US showed that initial weekly jobless claims dropped below one million for the first time since the start of the pandemic, offering signs of the US economic recovery. This coupled with an intraday spike in the US Treasury bond yields provided some respite to the USD. Adding to this, a cautious mood around the US equity markets drove some haven flows towards the greenback and prompted some selling at higher levels. Read More...
GBP/USD analysis: Tests 200-hour SMA
Yesterday, the GBP/USD exchange rate re-tested the psychological level at 1.3120. During Friday morning, the rate was testing the 200-hour SMA near 1.3080.
If the given moving average holds, it is likely that the currency pair could reverse south and re-test the lower boundary of the medium-term ascending channel circa 1.3030.
On the other hand, the pair could gain support from the 55– and 100-hour SMAs near 1.3060. Thus, it is likely that some upside potential could prevail in the market. Read More...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stabilizes near 1.0800 as trading action turns subdued
EUR/USD holds steady near 1.0800 on Thursday and remains on track to end the day in negative territory following upbeat macroeconomic data releases from the US. The action in financial markets turn subdued as trading volumes thin out heading into Easter holiday.
GBP/USD extends sideways grind above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth help the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.