GBP/USD erases Tuesday’s gains and falls below 1.3200

GBP/USD erases Tuesday’s gains and falls below 1.3200

GBP/USD slipped for the second day in a row on Thursday and fell below 1.3200 amid risky market sentiment, which generally favored the pound, but the ferocity of the US central bank and the general strength of the dollar American weighed in on the pair.. At the time of writing, GBP/USD is trading at 1.3173. As mentioned above, market sentiment has deteriorated lately. European indices closed Thursday’s session with losses, although US equities remained in the green. In the FX space, the greenback remains firm around 98.89 for the US Dollar Index, approaching the 99.00 mark, as US Treasury yields rise. Read more…

GBP/USD forecast: sellers expect a drop below 1.3160

GBP/USD entered a consolidation phase near 1.3200 early Thursday after closing in negative territory on Wednesday. The improving market sentiment is helping the pair hold its ground for now, but a drop below 1.3160 ​​could open the door for further losses. The sharp decline seen in European and U.S. stock indexes on Wednesday showed that investors were not yet looking to rush into a relief rally. With no new developments surrounding the Russa-Ukraine dispute, U.S. stock index futures are posting modest gains early Thursday, but market participants may choose to sit on the sidelines awaiting headlines from the summit. NATO. Read more…

GBP/USD rebounds near 1.3170 area

GBP/USD traded slightly higher today, after hitting support slightly below the crossroads at the 1.3170 level, and the bullish support line from the March 15th low. Although still trading well below the longer-term bearish line taken from the July 29 high, the pair has recently been posting lower lows and higher highs above the aforementioned bullish line, and so we see chances for more progress at this time. Read more…