British pound is holding on to weekly gains of 0.24%, awaiting key events in the coming week. Sentiment remains bleak, a GBP/USD headwind. GBP/USD Price Forecast: Buyers’ failure to recapture 1.2600 could open the door for selling pressure. GBP is falling for the second day in a row, after hitting a daily high near 1.2560, […]
Tag: GBPUSD
GBP/USD maintains erratic movements between 1.2430 and 1.2670 – UOB
GBP/USD is still seen trading in the 1.2430-1.2670 range in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “We were expecting GBP/USD to ‘trade sideways into a 1.2470/1.2570 range’ yesterday. However, GBP/USD fell as low as 1.2433 before rising again to close […]
GBP/USD struggles near 1.2600 and pulls back towards 1.2535 on risk aversion
Sterling is holding on to weekly gains of 0.42% amid political turmoil and Brexit fears. The risk-off environment, and high US bond yields, buoyed the dollar and weighed on the pound sterling. GBP/USD Price Forecast: Remains neutral to the downside, although a daily close below 1.2500 will see the pair drop towards 1.2400. The GBP/USD […]
GBP/USD falls to 1.2550, remains within familiar ranges
GBP/USD falls back below 1.2550 but remains within familiar ranges as last week’s lows/21 DMA offer support. The survival of UK Prime Minister Johnson’s no-confidence motion has been a key talking point this week, but it hasn’t impacted sterling much. Currency markets are likely to remain dovish ahead of Friday’s US CPI. The strength of […]
GBP/USD: Looking erratic between 1.2430 and 1.2670 – UOB
Outlook for GBP/USD remains mixed and is expected to trade between 1.2430 and 1.2670 in the coming weeks, suggest UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “We were expecting GBP/USD to ‘trade sideways into a 1.2470/1.2570 range’ yesterday. However, GBP/USD fell as low as 1.2433 before […]
GBP/USD moves steadily towards a fresh weekly high but falls short of 1.2600 on UK political turmoil
GBP/USD remains positive for the week, up 0.82%. UK Prime Minister Boris Johnson won the no-confidence motion and the pound reacted positively. The World Bank cuts global economic growth to 4.1%. The UK PMI remains in expansionary territory, showing that the economy is slowing down. The US trade deficit has shrunk to the most in […]
GBP/USD recovers from 3-week lows, heads towards 1.2500
GBP/USD fell to near three-week lows but has since recovered to approach 1.2500 as the 21 DMA offers support. Sterling was little affected after British Prime Minister Johnson survived (albeit weakened) a confidence vote. Conditions could remain quite limited ahead of key US CPI data on Friday. The GBP/USD recovered from a brief dip to […]
GBP/USD bounces from multi-week low, remains negative below 1.2500
Sustained buying interest around the dollar drags GBP/USD to a near three-week low on Tuesday. A weaker risk tone and high yields on US Treasuries benefit the dollar. The decline looks limited as investors await the crucial US CPI report later this week. The pair GBP/USD has managed to recover a few pips from the […]
UK: Boris Johnson to address Cabinet on Tuesday – Reuters
After winning the vote of confidence by a 59% majority on Monday, British Prime Minister Boris Johnson will address the Cabinet on Tuesday.reports Reuters citing sources with knowledge of the matter. According to the agency, Johnson will ask for progress in reducing the cost of living, improving health, police surveillance and in the union of […]
GBP/USD maintains mixed outlook – UOB
The GBP/USD stays sideways between 1.2470 and 1.2670 for now, UOB Group currency strategists Lee Sue Ann and Quek Ser Leang suggest. Key comments 24 hour view: “Our expectations for GBP/USD to ‘drop below 1.2470’ failed to materialize as it rallied from 1.2477 to 1.2577 before pulling back to close at 1.2529 (+0.29%). Price action […]
