GBP/USD Price forecast: Round the 1,2400 area; It seems vulnerable while below the 50 -day SMA
The GBP/USD pair bounces a few pips from the minimum of the Asian session and currently quotes around the 1,2400 round brand, practically without changes in the day. The rise, however, remains limited to the modest fortress of the US dollar (USD), which, in turn, justifies some caution by the bullies.
The new tariff threats of the president of the United States, Donald Trump, boost the demand of the secure refuge dollar. Meanwhile, US employment data published on Friday, together with the expectations that Trump’s protectionist policies revive inflation, should allow the Federal Reserve (Fed) to maintain stable rates and offer additional support to the USD. In addition to this, the gloomy perspectives of the Bank of England (BOE) should contribute to limit the GBP/USD. Read more…
GBP/USD is maintained below 1,2400 for the firmness of the US dollar
The GBP/USD torque weakens about 1,239 during negotiation hours in Asia on Monday. The US dollar rises after the US president Donald Trump promised reciprocal tariffs. The publication index (CPI) of US for January will be the Center for Care later on Wednesday.
Trump said Friday that he would announce reciprocal tariffs on Tuesday or Wednesday about countries that tax US imports, with entry into force ‘almost immediately’. 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.
