Pound Sterling Price News and Forecast: GBP/USD struggles to hold above 1.3800, bearish bias remains
|GBP/USD Forecast: More sterling gains? Three higher lows and improving market mood point up
Cable is at the 1.38 crossroad once again – will it rise or fall? There are forces pulling in both directions, but there are reasons to expect bulls will prevail.
On Thursday, the dollar attracted safe-haven flows that came as US stocks suffered another down day – for no fundamental reason. US Retail Sales figures showed an increase of 0.8% in August, far better than a drop that was expected. On the other hand, inflation is off the highs, as shown by Consumer Price Index figures and by more recent surveys. Read more...
GBP/USD Price Analysis: Struggles to hold above 1.3800, bearish bias remains
The GBP/USD pair attracted some dip-buying near the 1.3775-70 region and edged higher on the last day of the week, albeit lacked any follow-through.
The risk-on mood prompted some profit-taking around the safe-haven US dollar and extended some support to the GBP/USD pair. However, disappointing UK Retail Sales data acted as a headwind for the British pound. Apart from this, expectations for an imminent Fed taper announcement helped limit any deeper USD pullback and further collaborated to cap gains for the major. Read more...
GBP/USD sticks to modest gains around 1.3800 mark post-UK Retail Sales
The GBP/USD pair held on to its modest intraday gains, albeit retreated few pips from daily tops in reaction to disappointing UK Retail Sales figures.
The pair attracted some dip-buying near the 1.3775-70 region on the last day of the week and moved away from the previous day's swing lows touched in the aftermath of upbeat US macro data. A modest US dollar pullback from three-week tops was seen as a key factor that provided a modest lift to the GBP/USD pair, though the uptick lacked follow-through. Read more...
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