GBP/USD to come under renewed selling pressure if buyers fail to defend 1.3600.

GBP/USD seems to have gone into a consolidation phase above 1.3600. However, the near-term technical outlook doesn’t yet point to a buildup of bullish momentum and sellers wait for 1.3600 support to fail, FXStreet’s Eren Sengezer reports.Near-term resistance seems to have formed at 1.3650 “In case Wall Street’s main indexes continue to push lower afterContinue reading “GBP/USD to come under renewed selling pressure if buyers fail to defend 1.3600.”

GBP/USD reverses a dip below 1.3600 amid hotter UK inflation, impending bull cross.

GBP/USD continues to find strong support sub-1.3600 levels.Hotter UK inflation and softer US dollar help the rebound in cable.Impending bulls cross and bullish RSI add credence to the corrective upside.GBP/USD is bouncing back above 1.3600, snapping a four-day winning streak after bulls faced rejection at the 200-Daily Moving Average (DMA), now at 1.3735. The turnaroundContinue reading “GBP/USD reverses a dip below 1.3600 amid hotter UK inflation, impending bull cross.”

GBP/USD to test the 1.38 level on robust UK data 

GBP/USD is little changed ahead of UK jobs and CPI data this week. Strong data should help the cable to challenge the 1.38 level, according to economists at Scotiabank.Sterling to find support from data.“Tomorrow’s December payrolls figures and Wednesday’s December CPI print (economists expect a 5.2% YoY increase) should firm up expectations for a 25bpsContinue reading “GBP/USD to test the 1.38 level on robust UK data “

GBP/USD Forecast: Bulls retain control as dollar stays on the back foot.

GBP/USD has regathered bullish momentum after Monday’s correction. Dollar is struggling to find demand ahead of Powell’s hearing.GBP/USD has regathered its bullish momentum following a downward correction on Monday and reached its highest level in more than two months above 1.3600. The technical outlook suggests that the pair is poised to continue to push higherContinue reading “GBP/USD Forecast: Bulls retain control as dollar stays on the back foot.”