Pound Sterling Price News and Forecast: GBPUSD picks up bids to refresh intraday high

FXStreet Team FXStreet

GBP/USD Price Analysis: Bulls approach 1.2435 hurdle amid five-day uptrend

GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week uptrend. That said, the Cable pair renews its intraday high near 1.2410 while rising for the fifth consecutive day as of late. In doing so, the quote extends the previous day’s rebound from the 21-SMA, around 1.2350 by the press time.

GBP/USD Weekly Forecast: Pound Sterling could see continuation of the uptrend

GBP/USD recorded solid gains in the second straight week of 2023, in the face of the continued United States Dollar (USD) downtrend and encouraging United Kingdom fundamentals. The Pound Sterling bulls, however, stalled just ahead of the 1.2450 barrier, as the focus shifts to the US growth figures in the week ahead.

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