Pound Sterling Price News and Forecast: GBPUSD recaptures 200-DMA. What’s next?
|GBP/USD Price Analysis: Needs to conquer 1.2300 to deliver more gains ahead
The GBP/USD pair has witnessed marginal selling pressure after failing to cross the 1.2300 hurdle in the early Tokyo session. The Cable recovered sharply on Friday after a sheer correction to near 1.2150 on the release of robust United States Employment data. Meanwhile, the risk impulse is extremely bullish as the Federal Reserve (Fed) is still looking to trim the interest rate hike pace.
GBP/USD Weekly Forecast: Pound Sterling recaptures 200-DMA. What’s next?
GBP/USD extended its four-week winning streak amid sustained United States Dollar (USD) weakness and risk-on market profile. The divergence in monetary policies between the US Federal Reserve (Fed) and the Bank of England (BoE) somewhat narrowed, providing extra zest to the Pound Sterling bulls.
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