GBP/USD Price Forecast: Hovers around 1.3550, support appears near nine-day EMA
The GBP/USD pair retraces its recent gains, trading around 1.3540 during Asian hours on Tuesday. The technical analysis of the daily chart indicates a persistent bullish bias as the pair moves upwards within an ascending channel pattern.
The GBP/USD pair remains above the nine-day Exponential Moving Average (EMA), suggesting a stronger short-term price momentum. Additionally, the 14-day Relative Strength Index (RSI) is positioned above 50, reinforcing a bullish bias. Read more...
GBP/USD hides in congestion ahead of key labor and inflation data
GBP/USD Held steady within recent consolidation on Monday, testing the waters near 1.3550. Cable traders are bracing for a fast one-two punch of UK and US data over Tuesday and Wednesday, and trade-related headlines continue to loom over market sentiment, further crimping momentum as investors hope for a cooldown in the US’s latest broad tariff tensions with China.
Trade talks are underway in London this week between the Trump administration and China’s government. Investors are hoping that the US and China will meet in the middle enough to convince the Trump administration to stop holding its own constituents as economic hostages with steep import taxes and tech trade restrictions. Read more...
GBP/USD edges up as Trump loosens tech trade grip with China
GBP/USD registered minimal gains during the North American session after hitting a daily high of 1.3581, following a Wall Street Journal article suggesting that US President Donald Trump is granting maneuvering room to US Treasury Secretary Scott Bessent regarding tech sales and lift export controls on China. At the time of writing, the pair trades at 1.3532, up by 0.05%.
The breaking news was met with cheers from investors as US equities traded in the red. Meanwhile, investors continued to digest a solid jobs report in the United States (US), which shows the economy added 139K new jobs, exceeding estimates of 130K, while the Unemployment Rate remained unchanged at 4.2%. This demonstrates the economy’s resilience despite cooling, primarily driven by higher interest rates resulting from uncertainty over tariffs. Read more...
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