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GBP/USD regains lost ground and hits one-week highs above 1.3640
Pound’s rebound from 1.3414 has extended to one-week highs at 1.3640 so far. The sterling appreciates on hopes of a BoE’s interest rate hike. GBP/USD’s current recovery, to cap at 1.3658/75. The sterling maintains a bid tone for the fourth consecutive day on Tuesday. The pair’s recovery from year-to-date lows near 1.3400 last week has extended beyond 1.3600, reaching session highs at 1.3640 so far. Read more…
GBP/USD Forecast: Sterling weathers several storms, ISM Services PMI key to further gains
“We have reliable supply chains for Christmas” – UK Prime Minister Boris Johnson’s soothing words early on Tuesday seem to echo with GBP/USD bulls sentiment that “everything will be alright.” A currency pair that weathers stormy seas have room to rise when the winds calm. GBP/USD has been holding onto its impressive recovery. Cable’s ability to withstand a long list of worries implies more gains are likely. Tuesday’s four-hour chart is showing bulls have gained ground. Read more…
GBP/USD finds resistance at 23.6% Fibonacci in descending channel
GBPUSD has been developing in a downward sloping channel since the beginning of June, with the price recently posting another rebound at the bottom of this structure at 1.3410. The cable is currently testing the 23.6% Fibonacci retracement level of the down leg from 1.4248 to 1.3410 at 1.3608. Read more…
