GBP/USD Forecast: Perky pound has three reasons to rise taking a peek at highest since 2018
GBP/USD has been edging higher amid hopes of an accelerated UK vaccination campaign. The Bank of England is edging closer to a rate hike, and the Governor could add fuel to the fire. A drop in US inflation expectations could hit the dollar. First a false break, then the real thing? GBP/USD has surpassed the previous 2021 peak of 1.4240, taking a peek at the highest since 2018, reaching 1.4250 before falling back to range. While the failure to hold onto the highs may embolden bears, cable has three reasons to rise. Read more...
GBP/USD Forecast: Mounting pressure hints another leg south
The British Pound was the worst performer this Tuesday, as GBP/USD fell from an early high at 1.4228, a fresh two-year high, to as low as 1.4154, ending the day near the latter. The decline was triggered by a downward revision of the UK Markit Manufacturing PMI, which resulted in 65.6 in May from 66.1. However, the decline continued despite limited buying interest for the greenback. Read more...
GBP/USD bulls shaken-up and out on COVID-19 variant worries
GBP has been a wild ride at the start of the month. Bears are taking back control as the trajectory reverses on COVID-19 concerns. Against the US dollar, sterling has traded between 1.4155 and 1.4250, printing fresh cycle highs in Tokyo before it was slammed by almost 90 pips all the way back to the 10-day EMA as European traders came online. Read more...
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GBP/USD stays under modest bearish pressure near 1.2650
GBP/USD edges lower toward 1.2650 after posting marginal losses on Thursday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to gain traction. Fed policymakers are scheduled to speak later in the day.
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