GBP/USD Forecast: Pound Sterling gains traction to start week
After ending the previous week in negative territory and posting losses for the third consecutive week, GBP/USD corrects higher and trades at around 1.3450 in the European session on Monday. The pair’s technical outlook points to a loss of bearish momentum.
The improving risk mood makes it difficult for the US Dollar (USD) to stay resilient against its rivals at the beginning of the week and helps GBP/USD stretch higher. At the time of press, the UK’s FTSE 1000 Index was trading marginally higher on the day, while US stock index futures were up about 0.3%. In case risk flows continue to dominate the action in financial markets in the second half of the day, GBP/USD could build on its daily gains. Read more…
GBP/USD Weekly Forecast: UK data raises doubts about local economic health
GBP/USD fell for three weeks in a row as risk aversion favored demand for the US Dollar (USD), while tepid United Kingdom (UK) data undermined demand for the Sterling Pound (GBP). The pair bottomed at 1.3365 mid-week, its lowest since May, recovering roughly 100 pips ahead of the weekly close.
Investors spent the week on their toes amid United States (US) fiscal and political woes. On the one hand, concerns revolved around US President Donald Trump’s rage against Federal Reserve (Fed) Chairman Jerome Powell, following the latter’s decision to keep interest rates floating between 4.25% and 4.50%. Read more…
