GBP/USD holds within familiar support territory in the 1.32's
GBP/USD is under pressure but remains within a 50 pip range with support within the 1.3200 vicinities. At the time of writing, cable is down some 0.25% trading between 1.3208 and 1.3289 on the day. Risk sentiment rebounded further on Tuesday as markets become more optimistic that Omicron will not impede the global economic recovery. Also, pledges from China to support economic growth also helped alleviate some of the fears. Markets now expect further monetary policy easing in China after the People’s Bank of China said it will reduce bank reserve requirements. Read more...
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 analysis: Finds resistance at 1.3290
On Tuesday morning, the GBP/USD currency exchange rate found resistance at 1.3290. The event was followed up by a decline. By the middle of the day's European trading hours, the pair had reached the 1.3240 level. A continuation of the decline of the GBP against the USD might result in the rate once again testing the support zone at 1.3195/1.3210. The zone consists of the November 30 and December 3 low levels. Read more...
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