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Pound Sterling Price News and Forecast: GBP/USD keeps the previous day’s rebound

August 17, 2022 by admin 0 Comments

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GBP/USD Price Analysis: Pokes weekly resistance line around 1.2100

GBP/USD picks up bids to extend the previous day’s recovery to 1.2100 during Wednesday’s Asian session. In doing so, the Cable pair approaches a one-week-old resistance line while also portraying the third bounce off the 50% Fibonacci retracement level of July-August advances.

GBP/USD climbs sharply towards 1.2080 on US mixed data

The GBP/USD snaps three days of losses and approaches the 1.2100 figure as the greenback begins to weaken in the middle of the North American session, courtesy of resurfacing recession fears with US data showing signs of an economic slowdown.