Pound Sterling Price News and Forecast: GBP/USD hovers around 1.3380 ahead of fresh impetus from the war

GBP/USD hovers around 1.3380 ahead of fresh impetus from the Russia-Ukraine war

The GBP/USD pair has rebounded from the lows of 1.3273 and is oscillating in a narrow range of 1.3376-1.3403 as investors are waiting for fresh headlines from the Russia-Ukraine tussle. The cable has been hammered by the market participants on Thursday after a full-scale invasion by Russia. US President Joe Biden holds Russia seldom responsible for the death and destruction in Ukraine after an active Russian military activity in the Donbas region in eastern Ukraine. Read more...

GBP/USD Forecast: Pound to suffer losses if 1.3440 support fails on risk-aversion

GBP/USD has fallen sharply in the early European session on Thursday as investors have started to seek refuge following Russia's decision to launch an attack against Ukraine. GBP/USD is likely to stay on the back foot amid escalating tensions and additional losses could be witnessed if the pair falls below 1.3440. Reflecting the intense flight-to-safety, the UK's FTSE 100 Index is falling more than 2% on a daily basis and US stocks futures indexes are down between 1.9% and 2.3%. The UK is yet to release an official response to Russian aggression and the EU is reportedly preparing the "harshest package of sanctions ever implanted." Read more...

Risk-sensitive sterling collapses on Russia's invasion of Ukraine

Cable slumped to two-month low against the US dollar as war in Ukraine prompted traders to migrate into safety, pushing risk-sensitive pound sharply lower. Thursday’s nearly 2% fall cracked important Fibo support at 1.3300 (76.4% retracement of 1.31611.3748 rally), with clear break here to expose key supports at 1.3164/61 (Dec 2021 low / Fibo 38.2% of 1.1409/1.4249 rally) and increase risk of retesting psychological 1.30 support. Read more...