Pound Sterling Price News and Forecast: GBP/USD to edge higher on a break past resistance at 1.3160

GBP/USD Forecast: Pound to edge higher on improving mood

GBP/USD has gained traction after having spent the Asian trading hours in a relatively tight range near 1.3100. The positive shift witnessed in risk sentiment is helping the pair push higher in the early European session and buyers could continue to show interest in the British pound if it manages to rise above 1.3160.

Ahead of Thursday's meeting between Russian Foreign Minister Sergei Lavrov and his Ukrainian counterpart Dmytro Kuleba, reports suggesting that Ukraine was no longer insisting on NATO membership revived optimism for a de-escalation of the crisis. Read more...

GBP/USD to edge higher on a break past resistance at 1.3160

GBP/USD has started to push higher, supported by improving market mood. Buyers could continue to show interest in the pound if cable manages to rise above 1.3160, FXSTreet’s Eren Sengezer reports.

“Risk perception remains the primary market driver for now and GBP/USD could extend its recovery, at least until headlines surrounding the Russia-Ukraine crisis force investors to start to seek refuge.” Read more...

GBP/USD: Weekly close below 1.3173/21 to clear the way for further falls towards 1.2855/29 – Credit Suisse

GBP/USD has collapsed sharply for a break of the key 1.3173/21 support cluster. A weekly close below the latter would warn of further significant weakness, according to analysts at Credit Suisse.

“We look for a weekly close below the key 1.3173/21 support cluster – which includes the 38.2% retracement of the 2020/2021 uptrend, 2021 lows and 200-week average – to confirm the break, clearing the way for further weakness to next support at 1.2855/29.” Read more...