Sterling has underperformed in recent sessions. Economists at UBS analyze GBP outlook. Range trading against the USD
In a relative space, the UK economy does not look exceptionally weak, moreover, interest rates are high, which should give some support to the pairing at these levels. With this yield-growth mix in mind, we expect GBP/USD to be more range-bound. To the downside, we see good support at 1.19, while to the upside we look for a top at 1.26.
See: GBP/USD could consolidate back above 1.27 by year-end – ANZ
RECOMMENDED CONTENT
EDITORS’ PICKS
EUR/USD closes in on 1.0500 as USD rally continues
EUR/USD closes in on 1.0500 as USD rally continues
EUR/USD came under renewed bearish pressure and fell to its lowest level since the first week of January below 1.0520 on Wednesday. The uninterrupted US Dollar rally continues to weigh on the pair as investors keep an eye political developments in the US.
EUR/USD News
GBP/USD stays on the back foot below 1.2150
GBP/USD stays on the back foot below 1.2150
GBP/USD struggles to erase its losses and trades near the multi-month low it set below 1.2150 mid-week. The persistent US Dollar (USD) strength despite a modest improvement seen in risk mood limits the pair’s rebound, while markets eye headlines on US budget negotiations.
GBP/USD News
Gold drops to multi-week lows below $1,890
Gold drops to multi-week lows below $1,890
Gold price extended its daily slide in the American session and touched its lowest level in six weeks below $1,890. The benchmark 10-year US Treasury bond yield holds steady near the multi-year high it set above 4.5%, making it difficult for XAU/USD to shake off the bearish pressure.
Gold News
This short-term Bitcoin holder indicator forecasts another rally for BTC
This short-term Bitcoin holder indicator forecasts another rally for BTC
Bitcoin price has been malleable to the short-term holder movements. A large spike in profits for short-term holders is almost always met by a correction in BTC.
<a href=”https://clicks.pipaffiliates.com/c?m=7670&c=503446″><img src=”https://ads.pipaffiliates.com/i/7670?c=503446″ width=”120″ height=”600″ /></a>
Free Forex Signals 
Leave a comment