GBP/USD Forecast: Libra sterling sellers doubt while keeping the key support
The GBP/USD closed in negative territory on Thursday and Friday, ending the previous week practically unchanged. The pair wins traction in the European morning and recovers around 1,2950.
The renewed weakness of the US dollar (USD) at the beginning of the week helps GBP/USD to maintain its position, since the mood of the market improves the relief of fears on aggressive reciprocal rates of the USA of the USA more … Read more …
GBP/USD attracts some buyers about 1,2950 while traders expect the publication of the US PMI.
The GBP/USD torque attracts some buyers around 1,2940 during the first European session on Monday, backed by a weaker dollar. The uncertainty about the next Round of Rates of the President of the USA, Donald Trump, and the concerns about the US economic deceleration weigh on the US dollar (USD) compared to the sterling pound (GBP). The preliminary reading of the Purchasing Management Index (PMI) of the US S&P manufacturing for March will be the center of attention later on Monday.
The dollar remains under pressure since analysts believe that Trump’s aggressive and erratic commercial policies could trigger a recession. Trump has declared on April 2 as the “Day of Liberation” for the US, when it will implement the so -called reciprocal rates that seek to match US rates with those imposed by commercial partners, as well as rates in sectors such as cars, pharmaceutical products and semiconductors, which has repeatedly claimed that they would apply that day. Read more…
Weekly Perspective of the GBP/USD: Geopolitical and economic concerns weigh on the pound sterling
The pound sterling (GBP) was corrected after reaching about 1.3000 against the US dollar (USD) in the middle of the week. However, the GBP/USD pair remains at its highest level in four months.
During the weekend, the US launched large -scale air attacks in Yemen, pointing to the Houthi militant group supported by Iran. In response, the Houthis attacked US ships in the Red Sea, which Trump promised to stop, warning that “hell will fall” if they continue. 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.
