GBP/USD technical analysis: Waits for a channel breakout [Video]
GBPUSD extended its recovery from a 5 ½-month low of 1.3570 marginally above the 1.3800 level and the 20-day simple moving average (SMA) on Monday but another obstacle has emerged. The price is currently battling the surface of a descending channel and the 38.2% Fibonacci retracement of the latest downfall at 1.3829. Read more…
GBP/USD Forecast: Pound well-positioned to fight back against King Dollar
Can cable bulls hold on? GBP/USD has been sliding from the highs as the US dollar gains ground amid safe-haven flows. Sterling can fight back better than others.
The latest upside trigger for the greenback – and downside for stocks – comes from China. Authorities in the world’s second-largest economy have extended their crackdown on technological companies, focusing on education firms in recent days. Worries that innovation and global growth are hampered have weighed on sentiment. Read more…
GBP/USD Analysis: Bulls look to seize control amid falling COVID cases in UK
The GBP/USD pair gained strong positive traction on Monday and built on last week’s solid rebound from the lowest level since early February. The momentum pushed the pair to over one week tops, beyond the 1.3800 mark and was sponsored by a combination of factors. In the absence of any fresh Brexit-related headlines, the British pound turned out to be one of the top-performing currencies and was supported by the declining trend in Delta variant infections in the UK. In fact, Britain recorded 24,950 new cases on Monday, down for the sixth successive day and well below the 54,674 reached on July 17. Read more…
