GBP/USD Forecast: Sterling has three reasons to stage a recovery, levels
Is football coming home? England has impressed fans and critics in its 4:0 victory over the weekend – even if Raheem Sterling did not score. The pound sterling has been benefiting from other reasons to rise.
1) Reopening hopes: The UK recorded over 24,000 cases of COVID-19, most of them of the highly contagious Delta variant. However, as hospitalizations have risen only modestly and deaths remain depressed, Prime Minister Boris Johnson is set to remain on course with the July 19 reopening. Read more...
GBP/USD analysis: Surges due to US data
On Friday, at 12:30 GMT, the US statisticians published monthly employment data, which caused a decline of the US Dollar. The initial decline was followed up by an extension of the fall of the value of the US Dollar. On the GBP/USD charts it resulted in a move upwards.
By the middle of Monday's trading hours, the rate had reached the resistance of the 1.3860 level, which was expected to be strengthened by the 200-hour simple moving average. Read more...
GBP/USD climbs to three-day tops, around mid-1.3800s
The GBP/USD pair edged higher during the early European session and climbed to three-day tops, closer to mid-1.3800s in the last hour.
The pair gained positive traction for the second consecutive session on Monday and is now looking to build on the previous session's post-NFP bounce from the lowest level since April 15. The uptick was supported by a combination of factors – a subdued US dollar demand and the optimism over the UK government's plan for the final step of easing COVID-19 restrictions. Read more...
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