GBP/USD Forecast: Poised to pierce the psychological 1.4000 threshold
The GBP/USD pair fell on the back of the resurgent dollar’s demand, ending the day in the 1.4060 price zone. Market players ignored encouraging UK data, as the country reported generally better-than-anticipated figures. The Q1 Gross Domestic Product came in at -1.5%, while the March monthly GDP printed at 2.1%. In the same month, Industrial Production rose by 3.6% YoY, while Manufacturing Production was up by 4.8% YoY. Read more...
Technical Analysis: Will the GBP/USD continue rebounding?
The GBPUSD technical analysis of the price chart on 1-hour timeframe shows GBPUSD: H1 hit 3-month high a day ago above the 200-period moving average MA(200) which is rising. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.4152. A level above this can be used as an entry point for placing a pending order to buy. Read more...
GBP/USD Price Analysis: Bears backing off on the lower time frames, for now
GBP/USD bears are in control, at least from a daily perspective. The following illustrates the downside targets in a 50% mean reversion of the prior bullish impulse and how price action on the lower time frames might play out on the way there. Read more...
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