GBP/USD Weekly Forecast: Bulls to face an uphill battle, with geopolitics in play
GBP/USD is heading into a fresh week on the front foot, having booked three straight weekly gains. The high-beta British pound remained resilient to the Russia-Ukraine crisis that dominated all through the week, as hotter UK inflation ramped up aggressive rate hike expectations from the Bank of England (BOE). Cable traders look forward to the Preliminary Business PMIs from both sides of the Atlantic, BOE’s Monetary Policy Report (MPR) and the Fed’s preferred inflation gauge for fresh trading directives. Read more...
GBP/USD Price Analysis: Bulls await sustained break above descending trend-line
The GBP/USD pair struggled to capitalize on a modest intraday uptick back closer to the monthly high and was last seen trading in the neutral territory, just above the 1.3600 mark. Hopes for a diplomatic solution to the Ukraine crisis underpinned the US dollar's safe-haven status. Apart from this, rising bets for additional rate hikes by the Bank of England acted as a tailwind for the British pound and provided a modest lift to the GBP/USD pair. That said, the lack of progress in talks to resolve the problems with the Northern Ireland protocol of the Brexit agreement held back bulls from placing aggressive bets. Read more...
GBP/USD Forecast: Pound approaches resistance that holds the key for further gains
GBP/USD has managed to edge higher early Friday after having closed the previous three days in the positive territory. The technical outlook suggests that the pair is close to turning technically overbought and investors might want to book their profits ahead of the weekend amid the ongoing geopolitical uncertainty. Read more...
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