GBP/USD remains steady near the 1.2850, awaits UK employment data
GBP/USD hovers around 1.2850 during the Asian session on Monday, maintaining a positive sentiment to potentially extend its winning streak that commenced on March 1. However, the US Dollar (USD) has received upward strength and recovered from intraday losses on Friday following the release of upbeat US Nonfarm Payrolls data.
In February, US Nonfarm Payrolls increased by 275K, surpassing January's figure of 229K and beating expectations of 200K. However, US Average Hourly Earnings (YoY) grew by 4.3%, slightly below both the estimated and previous reading of 4.4%. Monthly, there was an increase of 0.1%, which was lower than the anticipated 0.3% and the previous month's 0.5%. Read more...
Bullish breakthrough: GBP/USD sets sights higher after surpassing key threshold
The GBP/USD pair closed last Friday on a high note, showcasing a substantial rise in bullish momentum by breaking through and holding above the 1.2827 threshold. This move has heightened expectations for a sustained upward trajectory in the short term and intraday trading sessions. The breakthrough reinforces the bullish outlook and sets the stage for the currency pair to target higher resistance levels in the forthcoming period. Delving into the technical nuances, it becomes essential to keep an eye on pivotal support and resistance levels that will shape the pair's path ahead.
The GBPUSD pair ended the last trading session on a strong positive note, having breached the 1.2827 level and closed above it. This move indicates a strong bullish sentiment among traders and sets the stage for potential further gains. Read more...
GBP/USD Weekly Forecast: Pound Sterling looks to extend upside as US inflation, UK employment data loom
Following a down week, the Pound Sterling (GBP) regained its lost footing against US Dollar (USD), with GBP/USD clinching the highest level in seven months near the 1.2900 mark.
The Pound Sterling jumped back into the game, as the US Dollar resumed its downtrend amid an action-packed week. It wasn’t as favorable for the Greenback, in the face of a series of discouraging United States (US) economic data and Federal Reserve Chair Jerome Powell’s dovish comments. Read more...
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