Pound Sterling Price News and Forecast: GBP/USD kicks off the new week on a weaker note

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GBP/USD Weekly Forecast: Pound Sterling recovers, not out of the woods yet

The Pound Sterling (GBP) snapped a two-week downtrend and staged a comeback against the US Dollar (USD), driving the GBP/USD pair back to the 1.2700 threshold.

GBP/USD returned to the green as a dramatic week drew to a close. Markets witnessed a steep correction in the USD, courtesy of the US fundamental catalysts, offering a much-needed respite to the Pound Sterling buyers. Read more...

GBP/USD retreats from multi-week top, slides below 1.2700 on stronger USD

The GBP/USD pair attracts some sellers on the first day of a new week and reverses a major part of Friday's positive move to mid-1.2700s, or a nearly three-week high. The intraday slide drags spot prices back below the 1.2700 mark in the last hour and is sponsored by a goodish pickup in the US Dollar (USD) demand.

Against the backdrop of persistent geopolitical risks, worries about the second wave of trade war after US President-elect Donald Trump takes office in January drive some haven flows towards the Greenback and exert some pressure on the GBP/USD pair. In fact, Trump threatened a 100% tariff on the so-called 'BRICS' nations – Brazil, Russia, India, China, and South Africa – if they replace the USD with another currency for international transactions. Read more...

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