Pound Sterling Price News and Forecast: GBP/USD getting ready to lose more


GBP/USD Forecast: Ready to move up? Moderna's jabs serve as a boost, the Fed poses a risk

And then there were three – Moderna's vaccinations are joining those by Pfizer/BioNTech and AstraZeneca in Britain's battle against COVID-19. The UK already seems to have a lid over the spread of the disease – contrary to France which is under a strict lockdown and Germany, which is about to enter one. The deployment of the new inoculation is set to help contain the spread and reach more people. It also implies the potential for a quicker reopening.

However, GBP/USD depends heavily on movements in US yields. After cable bulls took profits on Tuesday, the fall in returns on American Treasuries helps sterling recover. Investors await President Joe Biden's speech on the infrastructure program, which has higher chances of passing after the Senate parliamentarian ruled it can pass via reconciliation, a quicker process.If the US grows faster, the rest of the world may benefit. Read more...

GBPUSD

GBP/USD getting ready to lose more

The British Pound saw three impulsive waves last week, extending the gains into Monday and Tuesday for this week as well. However, the up waves were continuously receding followed by a widespread down bar with very high volume on the 4-hour chart.

The 15-minute chart shows a recent break of yesterday’s low of New York session at 1.3800 just ahead of the London session. This could be a great entry point. On the 1-hour chart, the price shows the same bearish action. The intraday support for the pair lies at 1.3778 ahead of 1.3731. Read more...

GBPUSD

GBP/USD outlook: Cable dips to one-week low ahead of UK data

Cable holds in red for the second day and fell to one-week low (1.3772) in early European trading on Wednesday, in extension of Tuesday’s 0.53% drop. Recovery stall and subsequent weakness point to a bull-trap above 1.3887 Fibo barrier (38.2% of 1.4238/1.3670) that weighs on near-term action.

Fresh weakness cracked pivotal support at 1.3794 (50% retracement of 1.3670/1.3918 / 10DMA) with today’s close below here to add to negative signals and keep near-term bias with bears. Studies on 4-hr chart are in negative setup and signal further weakness but daily techs are still mixed as momentum remains negative but the action remains within thick daily cloud (spanned between 1.3712 and 1.3795). Read more...

GBPUSD

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.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD slips below 1.2050 amid dollar strength

EUR/USD is trading below 1.2050, losing some of its gains as the dollar shrugs off the fresh drop in yields and rises. European regulators said the benefits of J&J's vaccine outweigh the risks.

EUR/USD News

GBP/USD retreats from 1.40 despite upbeat UK job figures

GBP/USD is extending its falls after retreating from 1.40 as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 

GBP/USD News

XAU/USD tests key Fibo resistance at $1,775

XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance.

Gold News

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

Read more

S&P 500 (SPX) Update: Equity markets take a well deserved breather, crypto stocks slide

Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates.

Read more

Forex MAJORS

Cryptocurrencies

Signatures