Pound Sterling Price News and Forecast: GBP/USD dips as US-China trade optimism boosts US Dollar

FXStreet Team FXStreet

GBP/USD Weekly Outlook: Pound Sterling looks to resume uptrend in data-packed week

The Pound Sterling (GBP) erased weekly gains versus the US Dollar (USD) after the GBP/USD pair breached the critical 1.3290 support.

The bearish momentum around the GBP/USD pair regained traction in the second half of the week as demand for the US Dollar re-emerged following a weak start. Read more...

GBP/USD trades with negative bias below 1.3300 amid modest USD strength

The GBP/USD pair kicks off the new week on a weaker note and reverses a part of Friday's modest recovery from the vicinity of the 1.3200 mark, or over a three-week low. Spot prices trade around the 1.3280-1.3275 region during the Asian session, down 0.20% for the day amid a broadly stronger US Dollar (USD).

The US announced on Sunday that a trade deal with China had been reached following high-stakes trade talks in Switzerland over the weekend. This, in turn, helps to ease market concerns about a recession in the US. Adding to this, the Federal Reserve's (Fed) hawkish pause earlier this month lifts the USD to over a one-month high, which, in turn, exerts pressure on the GBP/USD pair. Read more...

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