GBP/USD outlook: Renewed bears probe again through key support zone
Cable lost ground after recovery was strongly rejected at the base of falling weekly Ichimoku cloud on Tuesday and fresh bearish acceleration on Thursday broke psychological 1.20 level, to test key support zone at 1.1950/14 (Fibo 38.2% of 1.1146/1.2446 / 200DMA / Feb 17 spike low), which contained several attacks in past three weeks.
Weakening structure of daily studies (negative momentum is rising / RSI is heading south / moving averages almost in full bearish setup) is maintaining downside pressure, while descending weekly cloud continues to weigh on near-term action after larger recovery was capped by the cloud base on Jan 23. Read more ...
GBP/USD Forecast: Recovery to remain limited unless 1.2000 resistance fails
GBP/USD has managed to stage an upward correction during the Asian trading hours on Friday and continued to edge higher toward 1.2000 in the early European morning. The pair needs to flip that level into support to attract buyers and extend its rebound.
After the data from the US revealed on Thursday that Unit Labor Costs rose by 3.2% in the fourth quarter, the benchmark 10-year US Treasury bond yield climbed to its highest level since early November above 4% and provided a boost to the US Dollar. In the late American session, however, Atlanta Fed President Raphael Bostic's cautious comments on policy tightening helped the market mood improve and limited the USD's upside, allowing GBP/USD to find support. Read more ...
GBP/USD steadily climbs back closer to 1.2000 mark amid broad-based USD weakness
The GBP/USD pair attracts fresh buyers in the vicinity of a technically significant 200-day Simple Moving Average (SMA) and reverses a part of the overnight losses back closer to the weekly low. The pair sticks to its intraday gains and is currently placed near the top end of the daily range, just a few pips below the 1.2000 psychological mark.
A modest pullback in the US Treasury bond yields prompts some selling around the US Dollar, which, in turn, is seen as a key factor pushing the GBP/USD pair higher. The British Pound draws additional support from rising bets for additional rate hikes by the Bank of England (BoE). It is worth recalling that the BoE Governor Andrew Bailey said on Wednesday that some further increase in bank rates may turn out to be appropriate, though added that nothing is decided. 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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays near 1.1350 after mixed EU data
EUR/USD remains on the back foot, trading near 1.1350 in the European trading hours on Tuesday. The data from the Eurozone showed that Industrial Production expanded by 1.1% in February. On a negative note, ZEW Survey - Economic Sentiment slumped to -18.5 in April from 39.8.
GBP/USD battles 1.3200 after UK jobs data
GBP/USD is defending minor bids near the 1.3200 mark in the early European session on Tuesday. The latest data from the UK showed that Unemployment Rate steadied at 4% in the quarter to February while Average Earnings disappointed, weighing negatively on the Pound Sterling.
Gold price bulls retain control amid trade jitters, Fed rate cut bets and weaker USD
Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Tuesday and currently trades around the $3,230 area, well within striking distance of the all-time peak touched the previous day.
Canada CPI expected to hold steady in March ahead of BoC policy decision
Statistics Canada will release the March Consumer Price Index report on Tuesday. Annualised inflation is expected to have held steady at 2.6%, matching the February reading. Market players anticipate a monthly advance of 0.7%, easing from the previous 1.1%.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.