Pound Sterling Price News and Forecast: GBP/USD waiting for a bullish breakout
|GBP/USD Forecast: Recovering from the Fed? Not so fast, as sterling faces UK reopening risks
Freedom Day may be less free than anticipated – The UK may dilute plans to relax COVID-19 rules on June 21 due to worries about the India variant. While the number of people infected with the B.1.617.2 strain of coronavirus remains small, it is growing rapidly – 28% from Monday to Wednesday. The new worries about delaying the reopening come despite reassurances that existing vaccines cope with the variant. Read more...
GBP/USD Forecast: Waiting for a bullish breakout
The GBP/USD pair bounced back, and trades near a daily high of 1.4189 as demand for the dollar receded. The market continues trading according to expectations of rising inflationary pressures in the US and how those could affect the Federal Reserve monetary policy. The favourite measures are government bond yields, which soared with FOMC Minutes on Wednesday, but quickly retreated to end Thursday near weekly lows. Read more...
GBP/USD: Minor support at 1.4115/05
GBPUSD minor support at 1.4115/05. A break lower targets 100 month moving average support at 1.4080/60, perhaps as far as support at 1.4025/15. Gains are likely to be limited with minor resistance at 1.4135/40 & 1.4160/70. Important 6 month trend line resistance now at 1.4220/30. A break higher targets strong 200 week moving average resistance at 1.4300/10. 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.