GBP/USD Price Forecast: Moves below 1.2950 toward nine-day EMA
The GBP/USD pair extends its losing streak for the third successive session, trading around 1.2940 during the Asian hours on Monday. Technical analysis of the daily chart suggests a continued bullish bias, with the pair moving upwards within an ascending channel pattern.
The 14-day Relative Strength Index (RSI) remains slightly below 70, indicating strengthened bullish momentum. Further gains will indicate an overbought condition and downward correction sooner. Moreover, the GBP/USD pair continues to trade above the nine-day Exponential Moving Average (EMA), reinforcing strong short-term price dynamics and confirming the ongoing upward trend. Read more…
GBP/USD Weekly Outlook: Pound Sterling braces for Fed and BoE policy announcements
The Pound Sterling (GBP) almost tested the critical 1.3000 level against the US Dollar (USD) in the past week, driving the GBP/USD pair to its highest level in four months.
GBP/USD stretched its previous week’s positive momentum and reached four-month highs just shy of the 1.3000 threshold on Wednesday before entering an upside consolidative phase in the remainder of the week. Read more…
GBP/USD consolidates below mid-1.2900s; downside potential seems limited
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow trading band, around the 1.2930 region during the Asian session. The fundamental backdrop, however, warrants some caution before positioning for any meaningful corrective pullback for spot prices from a four-month peak, around the 1.2990 area touched last Wednesday.
The US Dollar (USD) languishes near a multi-month low amid worries that US President Donald Trump’s tariffs and retaliatory measures from other countries could hurt the US economy. Adding to this, softer then expected US inflation and signs of cooling US labor market might force the Federal Reserve (Fed) to cut interest rates several times this year. This, in turn, keeps the USD bulls on the defensive and acts as a tailwind for the GBP/USD pair. Read more…