Pound Sterling Price News and Forecast: GBP/USD keeps positive tone

FXStreet Team FXStreet

GBP/USD bulls attempting to break into stongly bullish territories

At 1.2655, GBP/USD is 0.18% higher having risen from a low of 1.2616 to score a high of 1.2660 so far on the day. It is a holiday-shortened week and Monday's ranges are narrow making for a slow start to the week for G10 FX. That being said, risk assets remain in demand as investors continue to cheer the gradual easing of the lockdown in China.

GBP/USD outlook: Recovery loses steam after two-week rally but bulls remain in play

Cable keeps positive tone at the start of the week following strong rally in past two weeks (3.1%) but bulls face headwinds from falling weekly Tenkan-sen (1.2661) which capped recovery last Friday and continues to limit the action today. Today’s narrow range generates initial signs of stall as overbought stochastic on overall bullishly-aligned daily studies suggests bears may pause here for consolidation.

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FXStreet Team

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