GBP/USD Weekly Forecast: Sterling shines as stars align, UK inflation key to more gains
Brexit tends to pound the pound – but now, relatively soothing news has helped send sterling higher. Alongside a moderate tapering path from the Fed, inflation concerns failed to stop cable's climb. UK inflation stands out, as it could determine the BOE's next decision. GBP/USD has been boosted by Brexit calm and clearer Fed path. UK inflation, the energy crunch and US politics are set to rock markets. Mid-October's daily chart shows bears are holding onto their lead. The FX Poll is pointing to a reversal of recent gains. Read more...
GBP/USD pulls back from 1.3775, remains steady at one-month highs
The British pound has rallied on Friday to break above 1.3750, reaching 1.3775 for the first time since mid-September. The pair has appreciated about 0.65% in the best daily performance over the last few weeks and is set to close the week with a substantial advance after having appreciated nearly 2.5% so far in October. Read more...
|Today last price||1.3756|
|Today Daily Change||0.0083|
|Today Daily Change %||0.61|
|Today daily open||1.3673|
|Previous Daily High||1.3735|
|Previous Daily Low||1.3656|
|Previous Weekly High||1.3659|
|Previous Weekly Low||1.3532|
|Previous Monthly High||1.3913|
|Previous Monthly Low||1.3412|
|Daily Fibonacci 38.2%||1.3705|
|Daily Fibonacci 61.8%||1.3686|
|Daily Pivot Point S1||1.3641|
|Daily Pivot Point S2||1.3609|
|Daily Pivot Point S3||1.3562|
|Daily Pivot Point R1||1.372|
|Daily Pivot Point R2||1.3767|
|Daily Pivot Point R3||1.3799|
GBP/USD Forecast: Near-term bullish outlook remains intact
The GBP/USD pair failed to make a daily close above 1.3700 on Thursday but buyers are not discouraged as the pair seems to have regathered its bullish momentum on Friday. At the time of press, GBP/USD was trading at its highest level in three weeks above 1.3730. GBP/USD has regained its traction in the early European session. UK's Frost and EU's Šefčovič will discuss Northern Ireland protocol on Friday. US T-bond yields continue to impact dollar's valuation. Read more...
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