Pound Sterling Price News and Forecast: GBP/USD retreats but clings to bullish stance

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling retreats but clings to bullish stance

Following a four-day decline, GBP/USD made a sharp U-turn on Friday and gained more than 0.8%. The pair stays in a consolidation phase at around 1.3500 in the European session on Monday.

Following Federal Reserve (Fed) Chairman Jerome Powell's speech on “Economic Outlook and Framework Review” at the annual Jackson Hole Economic Symposium on Friday, the US Dollar weakened against its rivals and allowed GBP/USD to gather bullish momentum. Read more...

GBP/USD Weekly Forecast: Pound Sterling finds support heading into a holiday-shortened week

The Pound Sterling (GBP) faced rejection yet again, just shy of the 1.3600 mark against the US Dollar (USD), leading to a solid pullback in the GBP/USD pair from one-month highs to eight-day lows. However, the renewed USD weakness heading into the weekend opened the door for a decisive recovery in the pair.

A down week, overall, for GBP/USD, characterized mainly by a broad-based US Dollar resurgence until Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole Symposium. Two primary catalysts, in risk aversion and reduced dovish sentiment around the US Federal Reserve, helped the Greenback stage a decent comeback against its major currency rivals. Read more...

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