The GBP/USD pair lacks any firm intraday direction on Wednesday and oscillates in a narrow band below the 1.2300 mark during the Asian session. Spot prices, meanwhile, hold above the weekly low touched on Tuesday and for now, seem to have stalled this week’s rejection slide from the 200-day Simple Moving Average (SMA), around the 1.2425-1.2430 area, or the highest level since mid-September. Read More…
GBP/USD extends its losses past the 1.2300 figure after failing to decisively crack the 200-day moving average (DMA) due to overall US Dollar (USD) strength despite falling US bond yields. The major exchanges hands at 1.2264, down 0.63%. Read More…
The Pound Sterling (GBP) faces a sell-off on Tuesday, paring some gains from the recent rally, as risks of a slowdown in the United Kingdom economy are unabated due to higher interest rates by the Bank of England (BoE). The GBP/USD pair recovered sharply on Friday and Monday but struggled to maintain strength and trades around 1.2330 amid an absence of fundamental cushion for the Pound Sterling. Read More…
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