GBP/USD price forecast: It remains above 1,3400 despite persistent bassist bias
The GBP/USD pair advances up for the second consecutive day, quoting around 1,3420 during the Asian hours of Monday. However, the bearish bias persists since the technical analysis of the daily chart indicates that the torque remains within the descending channel pattern.
The 14 -day relative force (RSI) index is maintained below level 50, strengthening the bearish bias. However, the GBP/USD torque is positioned below the nine -day exponential mobile average (EMA), suggesting that the impulse of the short -term price is weaker. Read more…
GBP/USD weekly forecast: UK data generate doubts about local economic health
The GBP/USD fell for three consecutive weeks since risk aversion favored the demand of the US dollar (USD), while the warm data of the United Kingdom (UK) undermined the demand for the sterling pound (GBP). The torque touched back in 1,3365 in the middle of the week, its lowest level since May, recovering approximately 100 pips before the weekly closure.
Investors were alert during the week in the midst of fiscal and political problems in the United States (USA). On the one hand, the concerns revolved around the anger of US President Donald Trump against the president of the Federal Reserve (Fed), Jerome Powell, after the latter’s decision to keep interest rates floating between 4.25% and 4.50%. Read more…
GBP/USD is consolidated around 1,3400, it remains close to the minimum of two months
The GBP/USD torque begins the new week with a moderate tone and oscillates in a narrow range, just above the round 1,3400 figure during the Asian session. Meanwhile, cash prices remain well within the distance of a minimum of almost two months reached last week.
The US dollar (USD) remains at a disadvantage below the monthly peak reached last Thursday in the middle of mixed signals on the federal reserve rate cut (Fed), which, in turn, is considered a tail wind for the GBP/USD pair. In fact, the governor of the Fed, Christopher Waller, supported last week the case for a rate cut in July. However, investors seem convinced that the US Central Bank will maintain the highest interest rates for longer amid the evidence that the increasing import taxes of the Trump administration are moving to consumer prices. 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.
