Pound Sterling Price News and Forecast: GBPUSD reaches two-month highs

FXStreet Team FXStreet

GBPUSD Price Analysis: Upside seems favored on rising channel breakout

The GBPUSD pair has witnessed a decline below the critical support of 1.1800 in the Tokyo session. The asset has turned sideways amid the unavailability of any potential trigger. However, the risk profile is continuously solid post the release of the US inflation report. The US dollar index (DXY) has witnessed intermediate support around 106.30 after a perpendicular decline move.

GBPUSD Weekly Forecast: Pound Sterling eyes acceptance above 1.1800

GBPUSD swung from a two-week low to a two-month top in a matter of a few days, having climbed toward 1.1800 ahead of the weekend. The pair benefited from the US Dollar weakness, which extended on narrowing gap between monetary policies from the United States (US) and the United Kingdom (UK).

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