GBP/USD Price Analysis: Plummets to over two-week low, seems vulnerable to slide further.

GBP/USD witnessed aggressive selling on Friday and dived to over a two-week low. Technical selling below the 1.2100 mark aggravated the intraday bearish pressure. Descending trend-channel breakdown supports prospects for a further near-term fall. The GBP/USD pair added to its heavy intraday losses and tumbled to over a two-week low, around the 1.2030 region headingContinue reading “GBP/USD Price Analysis: Plummets to over two-week low, seems vulnerable to slide further.”

GBP/USD remains vulnerable to flushing below 1.20.

In the United Kingdom, political pressures are rising while monetary challenges are exacerbated. Economists at Westpac note that the GBP/USD pair could tumble to test the 1.120 level.UK’s political backdrop remains precarious  “UK is facing extreme monetary policy challenges with inflation at the top of major economy rankings while growth forecasts from bodies such asContinue reading “GBP/USD remains vulnerable to flushing below 1.20.”

GBP/USD Price Analysis: Recaptures critical trendline resistance at 1.2275.

GBP/USD bulls are fighting the bearish odds, re-attempting the upside. GBP/USD is moving back and forth in a 40-pips narrow range so far this Friday, now attempting another bounce towards 1.2300. The renewed upside in the major is fuelled by a bout of weakness seen in the US dollar across its main peers, as riskContinue reading “GBP/USD Price Analysis: Recaptures critical trendline resistance at 1.2275.”

GBP/USD pares intraday losses, keeps the red near 1.2200 mark amid stronger USD.

GBP/USD edged lower for the second successive day amid a pickup in the USD demand. The GBP/USD pair struggled to capitalize on the overnight solid bounce of around 100 pips from the weekly low and attracted some selling for the second successive day on Thursday. Spot prices dropped to the 1.2170-1.2165 area during the earlyContinue reading “GBP/USD pares intraday losses, keeps the red near 1.2200 mark amid stronger USD.”