Pound Sterling Price News and Forecast: GBP/USD recovery gains momentum

GBP/USD outlook: Fresh recovery acceleration opens way for retest of key barriers at 1.3443/44

Cable jumped around a hundred pips on Monday morning, lifted by weaker dollar on surprise US credit rating downgrade and the latest EU/UK agreement on defense.

Fresh advance attempts to break above three-day congestion that would signal continuation of recovery from 1.3139 (correction low of May 12) which has already retraced 76.4% of 1.3444/1.3139 pullback. Read more…

GBP/USD Forecast: Pound Sterling closes in on key resistance

GBP/USD gathers bullish momentum in the European session and trades at its highest level in nearly two weeks above 1.3350. The technical outlook suggests that the pair has more room on the upside before turning technically overbought.

The broad-based US Dollar (USD) weakness fuels GBP/USD’s rally at the beginning of the week as markets react to Moody’s downgrade of the United States’ credit rating late Friday. Read more…

GBP/USD Weekly Outlook: Pound Sterling aims to resume uptrend in UK inflation week

The Pound Sterling (GBP) regained its footing against the US Dollar (USD) after the GBP/USD pair exhibited strong two-way price movements within a 150-pip range during the week.

Following a painful start to the week, the GBP/USD managed to find its footing as the US Dollar lost its recovery momentum in the latter part, with optimism surrounding the US-China trade truce fading. Read more…