GBP/USD extending the upside, however, naked 1.3605 to be restested?
GBP/USD is moving higher in Asia, printing fresh highs for the week. The forex space is dominated by the US dollar which has been licking wounds on Wednesday while US yields sapped momentum from its recent rebound. The benchmark 10-year Treasury yields lost some 7 basis points from a 10-month high hit on Tuesday and the turnaround capped a three-day streak for the dollar.
GBP/USD Forecast: Possible extension towards 1.3715
The British Pound was the best performer against the greenback this Tuesday, with GBP/USD hitting 1.3651, to close the day a handful of pips below the level. The sterling got boosted by Bank of England’s Governor Andrew Bailey, who cooled expectations of negative rates, after noting that they are a controversial issue. He also said that it’s too early to reach any conclusion about the need for future stimulus.
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