GBP/USD Analysis: Slide below 1.3200 mark remains a distinct possibility
The GBP/USD pair built on the previous day's positive move up from the vicinity of 1.3200 and gained some traction during the first half of the trading action on Tuesday. In the absence of any negative Brexit-related headlines, rising bets for an imminent rate hike by the Bank of England in December acted as a tailwind for the British pound. Apart from that, subdued US dollar demand extended some support to the pair. Read more...
GBP/USD to test the next support zone at 1.3130/1.3000 – SocGen
The upward move in GBP/USD petered out after two failed attempts to overcome 1.4240 earlier this year in February and June. A steady downtrend has taken shape from those levels. Economists at Société Générale note the prevalence of downward momentum and expect the cable to test the 1.3130/1.3000 support zone. Read more...
GBP/USD turns south after rejection at 1.3290, ignores market optimism
GBP/USD is paring back gains while heading towards 1.3250 in the European session, as rising cases of the new Omicron covid variant in the UK overshadows the broader market optimism.
The pound bears the brunt of the unstoppable growth in new infections, with 336 confirmed cases of the highly-mutated variant across the UK on Monday, a rise of 90 from Sunday. Read more...
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