GBP/USD Price Analysis: The potential upside barrier is seen at the 1.2700-1.2710 zone
The GBP/USD pair snaps the two-day winning streak during the early European session on Tuesday. The major pair edges lower amid the modest recovery of the US Dollar (USD). February’s labor market report this week will be a closely watched event. At press time, GBP/USD is trading at 1.2685, down 0.03% on the day.
From a technical perspective, the bullish outlook of GBP/USD remains intact as the major pair is above the key 100-period Exponential Moving Average (EMA) on the four-hour chart. It’s worth noting that the Relative Strength Index (RSI) lies above the 50 midlines, indicating the path of least resistance is to the upside. Read more...
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GBP/USD grapples with 1.2700 handle as markets bid into a hefty trading week
GBP/USD climbed into the 1.2700 handle on Monday before falling back, paring away some of the day’s gains but hitting the rollover higher than it started.
The UK sees only a thin showing on the economic calendar this week, and another US Nonfarm Payrolls (NFP) labor print on Friday sees investors gearing up for another kick at the can on how soon the Federal Reserve (Fed) will begin cutting interest rates. Read more...
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