GBP/USD Forecast: Pound Sterling closes in on key support area
GBP/USD struggles to gain traction and trades in a tight channel at around 1.2400 after posting losses for two consecutive days to end the previous week. In the absence of high-tier data releases, investors will continue to scrutinize fresh developments surrounding US President Donald Trump’s trade policy.
The risk-averse market environment helped the US Dollar (USD) stay resilient against its rivals on Friday and caused GBP/USD to stretch lower, despite the mixed employment data for January. Read more…
GBP/USD Elliott Wave technical analysis [Video]
The GBP/USD Elliott Wave Analysis for the daily chart evaluates the British Pound against the U.S. Dollar, highlighting a bullish trend. The market mode is identified as impulsive, indicating strong momentum in the current trend direction. Read more…
GBP/USD Weekly Outlook: Pound Sterling struggles amid BoE’s dovish signals
The Pound Sterling (GBP) failed to sustain its recovery against the US Dollar (USD), reviving the selling interest around the GBP/USD pair. It was all about US President Donald Trump’s tariff war with Canada, Mexico and China at the start of the week, with attention returning to the fundamentals in the second half. That said, GBP/USD witnessed intense volatility during the week but remained confined within a 150 pips range.
In the early part of the week, risk sentiment took a hit and rebounded firmly on US President Donald Trump’s tariff play. Trump on Saturday imposed 25% tariffs on Canada and Mexico while imposing a 10% levy on China, effective 05:01 GMT on Tuesday. Read more…
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