Pound Sterling Price News and Forecast: GBP/USD stalls at around 1.2420 firm on solid USD, mixed sentiment
|GBP/USD stalls at around 1.2420 firm on solid USD, mixed sentiment
GBP/USD slides back closer to 1.2400 amid reviving USD demand, downside seems limited
The GBP/USD pair struggles to capitalize on the previous day's goodish rebound of over 70 pips and attracts fresh sellers near the 1.2455-1.2460 region, or the 50-day Simple Moving Average (SMA), on Tuesday. Spot prices turn lower for the third straight day and trade just above the 1.2400 round-figure mark during the first half of the European session. Read More....
GBP/USD struggles to surpass 1.2450, upside seems favored despite hawkish Fed bets improve
The GBP/USD pair has witnessed delicate barricades after climbing to near 1.2450 in the early European session. The Cable is expected to remain on tenterhooks as the USD Dollar Index (DXY) has attempted a recovery after dropping to near 103.81. More downside for the US Dollar Index (DXY) seems solid as the United States economy is moving towards recession. Read More...
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