GBP/USD meets 1.2500 after hitting 11-month high [Video]
GBPUSD is retreating after the climb towards a new eleven-month high of 1.2585 in the previous week and is finding significant support near the 20-day simple moving average (SMA). Currently, the market remains well above the long-term uptrend line, indicating more gains. The MACD oscillator is moving sideways in the positive territory, while the RSI is ticking marginally higher above the neutral threshold of 50. Read more …
GBP/USD Forecast: Bulls try to keep Pound Sterling above key support
GBP/USD seems to have stabilized at around 1.2500 early Tuesday after having stage a deep downward correction on Monday. The pair's near-term technical outlook fails to provide a directional clue but buyers could remain interested in Pound Sterling as long as 1.2480 support holds.
Following a quiet European session on Monday, the US Dollar (USD) gathered strength against its rivals as the US Treasury bond yields started to push higher ahead of this week's highly-anticipated Federal Reserve policy meeting. With the benchmark 10-year US T-bond yield rising more than 4% and reclaiming 3.5%, the US Dollar Index advanced to the 102.00 area. Read more …
GBP/USD trades with modest losses below 1.2500 mark, downside potential seems limited
The GBP/USD pair turns lower for the second successive day on Tuesday and weakens further below the 1.2500 psychological mark during the first half of the European session.
The US Dollar (USD) attracts some dip-buying and stands tall near a two-week high touched on Monday, which, in turn, is seen as a key factor exerting downward pressure on the GBP/USD pair. Expectations that the Federal Reserve (Fed) will hike interest rates by 25 bps at the end of the two-day FOMC policy meeting on Wednesday led to the overnight rise in the US Treasury bond yields. Apart from this, a softer risk tone – amid looming recession risks – lends additional support to the safe-haven Greenback. Read more …
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