Pound Sterling Price News and Forecast: GBP/USD may experience upward momentum
|GBP/USD Price Forecast: Tests descending channel’s upper boundary above 1.2650
GBP/USD remains flat following gains in the previous session, trading around 1.2680 during the Asian hours on Tuesday. The daily chart analysis suggests a upward momentum shift as the pair attempts to break above the descending channel pattern, aligned with nine- and 14-day Exponential Moving Averages (EMAs).
However, the 14-day Relative Strength Index (RSI) remains below the 50 level, suggesting a bearish bias is still in play. A decisive surpass of the 50 mark would give confirmation of an emergence of bullish sentiment. Read more...
GBP/USD pares recent losses as Cable traders brace for central bank outings
GBP/USD snapped a three-day losing streak that dragged the pair down toward the 1.2600 handle last week, recovering a little over one-half of one percent on Monday and pushing back into touch range of 1.2700.
UK Services PMI survey results hit an 11-month low in December, but a rise in the Manufacturing component supported Cable sentiment. GBP traders will focus on Tuesday’s UK wages and labor data, with quarterly Average Earnings expected to rise to 5% YoY. Read more...
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