GBP/USD Outlook: Seems poised to reclaim 1.3500, dips could be seen as buying opportunity
The GBP/USD pair prolonged this week's solid bounce from the vicinity of the YTD low and gained strong follow-through traction for the third successive day on Thursday. Investors turned optimistic amid reports that the current vaccines may be more effective in fighting the new variant than first thought. Adding to this, a UK study suggested that Omicron infections are less likely to lead to hospitalization and helped offset worries about surging COVID-19 cases in Britain. This, in turn, was seen as a key factor that acted as a tailwind for the British pound and provided a strong lift to the major amid subdued US dollar demand. Read more...
Pound jumps as Omicron risk dismissed
The pound’s newfound strength is a result of stronger risk appetite. When Omicron first appeared on the scene several weeks ago, there were dire predictions about the damage another wave of Covid would cause to the global economy. Omicron has spread very quickly across Europe and the US, but investors remain optimistic that although Omicron is much more contagious than Delta, the symptoms are milder, according to some medical reports. With risk sentiment on the rise this week, we are seeing a movement away from the safe-haven US dollar, and the pound has gained ground. Read More...
GBP/USD Price Analysis: Bulls have the upper end, could aim to reclaim 1.3500 mark
The GBP/USD pair attracted some dip-buying near the 1.3390-85 region on Friday and turned positive for the fourth successive day. The pair held on to its modest intraday gains through the mid-European session and was last seen trading near the daily top, around the 1.3415-20 region. The GBP/USD pair could then accelerate the appreciating move and aim to reclaim the key 1.3500 psychological mark. The momentum could get extended and push spot prices beyond an intermediate hurdle near 1.3515, towards testing the next relevant barrier near the 1.3560-65 region. Read More...
|Today last price||1.3403|
|Today Daily Change||-0.0018|
|Today Daily Change %||-0.13|
|Today daily open||1.3421|
|Previous Daily High||1.3438|
|Previous Daily Low||1.3343|
|Previous Weekly High||1.3374|
|Previous Weekly Low||1.3172|
|Previous Monthly High||1.3698|
|Previous Monthly Low||1.3194|
|Daily Fibonacci 38.2%||1.3402|
|Daily Fibonacci 61.8%||1.3379|
|Daily Pivot Point S1||1.3363|
|Daily Pivot Point S2||1.3306|
|Daily Pivot Point S3||1.3268|
|Daily Pivot Point R1||1.3458|
|Daily Pivot Point R2||1.3496|
|Daily Pivot Point R3||1.3553|
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.