Pound Sterling Price News and Forecast: GBP/USD has moved above the double top neckline a 2nd time – FXStreet

GBP/USD outlook: Rally takes a breather under key Fibo resistance at 1.2425

Cable maintain bullish tone on Monday and hit three-week at 1.2425 in European trading but pulled back to 1.2380 zone after rally was capped by Fibo barrier at 1.2425 (61.8% of 1.2642/1.2074).

Weak dollar and UK’s manufacturing PMI in line with expectations (40.7) and well above previous month’s 32.6 figure, adds to positive tone. Bullish setup of daily 10;20;30;55 DMA’s and rising positive momentum, underpin the action, but rally may pause for consolidation before resuming. 

Read more…

GBP/USD could rise back to 1.2648 – CitiBank

Analysts at Citibank point out the British Pound is fundamentally cheap. They consider a return to normality may see the pound trade more constructively, pushing GBP/USD back to levels seen at the beginning of 2020. 

Read more…


READ  Full Regulatory Impact: Good or Bad for Crypto Traders and Investors? - The Daily Hodl


Please enter your comment!
Please enter your name here