GBP/USD price forecast: The upward perspective is maintained above 1,3550
The GBP/USD pair earns traction around 1,3555 during the early European session on Monday, driven by a weaker US dollar (USD). Commercial uncertainty affects the feeling among US companies, which leads operators to reassess the status of secure refuge of the dollar and acts as a tail wind for the main torque. Operators expect the United Kingdom’s employment data to obtain a new impulse, which will be published later on Tuesday.
Technically, the constructive perspective of the GBP/USD is maintained, since the main torque is well backed above the 100 -day exponential mobile average (EMA) in the daily chart. The bullish impulse is reinforced by the relative force index (RSI), which is located above the midline about 60.50, showing an upward impulse in the short term. Read more…
Weekly Perspective of the GBP/USD: The bundles of the sterling pound point to a break above 1,3600 in a week driven by data
The sterling pound (GBP) advanced against the US dollar (USD) while the GBP/USD torque reached the highest level since February 2022, briefly above the 1,3600 brand. The GBP/USD entered an upward consolidation phase in the first half of the week, after the progress of the week before 39 months of 1,3593.
The pair capitalized the generalized weakness of the US dollar at the beginning of the week in the midst of renewed fears of the US economy and uncertainty in commercial policy. The president of the USA, Donald Trump, announced on Friday that he would double import tariffs on steel and 50% aluminum in an attempt to “further ensure the steel industry in the United States.” Read more…
The GBP/USD operates with positive bias around the area of ​​1,3530-1,3535, lacks bullish conviction
The GBP/USD pair advances during Monday’s Asian session and, for now, seems to have stopped its backward slide from the highest level since February 2022, around the 1,3615 region played last week. However, the rebound lacks the bullish force, with cash prices currently quoting around the 1,3530-1,3535 region, rising only 0.05% in the day.
The US dollar (USD) struggles to capitalize on the upward movement inspired by positive US employment data on Friday and starts the new week in a moderate note, which, in turn, is considered a key factor that offers support to the GBP/USD pair. In addition, the comments of the Governor of the Bank of England (BOE), Andrew Bailey, last week, saying that the Central Bank will remain in a gradual and careful approach to cut interest rates in the midst of commercial uncertainties, act as a tail wind for the pair of currencies. Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
