Pound Sterling corrects against USD ahead of US JOLTS Job Openings data
The Pound Sterling (GBP) corrects below 1.3400 against the US Dollar (USD) during European trading hours on Tuesday from its fresh three-year high of 1.3445 posted earlier in the day. The GBP/USD pair retraces as the US Dollar steadies, with investors awaiting a slew of United States (US) economic data releases.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades inside Monday’s range at around 99.30. Read more…
GBP/USD Forecast: Pound Sterling could face stiff resistance at 1.3480
GBP/USD benefited from the renewed selling pressure surrounding the US Dollar (USD) and advanced to its highest level in over three years above 1.3440 in the Asian session on Tuesday. Although the pair corrects lower in the European morning, the technical outlook suggests that the bullish bias remains intact.
GBP/USD holds comfortably above the 20-period and the 50-period Simple Moving Averages (SMA) on the 4-hour chart and the Relative Strength Index (RSI) indicator stays above 60, reflecting a bullish bias. Read more…
