GBP/USD retreats towards 50-day SMA [Video]
GBPUSD has been stuck in a rangebound pattern since mid-November, unable to adopt a clear directional impetus. Although the pair exploded higher and posted a fresh seven-month high after conquering the 50-day simple moving average (SMA), it quickly reversed back within its neutral structure. Read more...
GBP/USD Forecast: Pound Sterling faces next support at 1.2670
Following Monday's indecisive action, GBP/USD lost its traction and dropped to its lowest level in nearly two weeks below 1.2700. The near-term technical outlook suggests that the pair is about to turn oversold. Read more...
GBP/USD: Support below 1.2675/1.2680 sits at 1.2600/1.2610 – Scotiabank
GBP/USD trades weaker below support in the low 1.2700s. Economists at Scotiabank analyze the pair’s outlook.
UK CPI data due on Wednesday and Thursday’s BoE decision may help limit near-term losses. Read more...
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