Pound Sterling Price News and Forecast: GBP/USD to finish the week under 1.3100 on a firm US dollar

GBP/USD to finish the week under 1.3100 on a firm US dollar

The British pound remains defensive, trading below the 1.3100 mark, on the back of a buoyant US dollar amidst a dull trading session as financial markets are closed In the observance of Easter Friday. The GBP/USD is trading at 1.3061 at the time of writing. The GBP/USD has remained under pressure in the week. A stronger US dollar and diminished risk appetite spooked GBP bulls, as the GBP/USD is about to end the week with modest gains of 0.18%. Contrarily, the US Dollar Index, a gauge of the greenback’s value against a basket of its rivals, edges up 0.68%, sitting at 100.519, underpinned by high US Treasury yields throughout the week. Read more…

GBP/USD Weekly Forecast: For how long can 1.3000 support hold?

After dropping to its lowest level since November 2020 at 1.2974 earlier in the week, GBP/USD has managed to stage a rebound. Although the broad-based dollar strength didn’t allow GBP/USD to gather further bullish momentum in the second half of the week, the pair ended up closing above 1.3050 to snap a two-week losing streak. Read more…

Technical analysis: GBP/USD gains capped by 200-period MA, bearish risks rekindled

GBPUSD’s fresh drop has stabilized around its 50-period simple moving average (SMA), after the scenario of a sturdy rally was dampened by the descending 200-period SMA and the 1.3156-1.3182 barricade overhead. Furthermore, the negative picture in the pair is being nurtured by the downward demeanour of the SMAs. Read more…

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Beware! Scammers hacked an Indian Website with a Fake Azuki NFT Airdrop

You are here: Home / News / Crypto Scam / Beware! Scammers…

: Data from 2.1 million students in 10,000 schools reveal the impact of remote learning: lower academic achievement and reduced socio-economic mobility

How has remote learning impacted children’s academic achievement? Using testing data from…

Using analytics to optimize marketing spend and drive sales

“Our No. 1 goal is to understand the impact that our marketing…

Aggregation is key to the new Martech Map

Back in 2015, there was a lot of talk about the “Frankenstack”…