GBP/USD drifts higher to around 1.3520 during Monday’s session.

GBP/USD Price Forecast: First upside barrier emerges above 1.3600

The GBP/USD pair edges higher to near 1.3520 during the early European session on Monday. The growing prospect that the Federal Reserve (Fed) will lower borrowing costs at least twice by the end of this year undermines the US Dollar (USD) against the Pound Sterling (GBP). 

Technically, the constructive outlook of GBP/USD remains in play, with the price being well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI) that stands above the midline. This displays the bullish momentum in the near term.  Read more…

GBP/USD Weekly Forecast: Pound Sterling awaits US Jobs data for fresh direction

The Pound Sterling (GBP) regained ground against the US Dollar (USD), albeit within the August 22 trading range. The GBP/USD pair gradually crawled back above the 1.3500 barrier on the renewed upside.

GBP/USD entered a consolidative mode following a late rebound last week. The bull-bear tug-of-war extended, but bargain-buying remained in vogue, courtesy of a broad-based US Dollar decline. The USD booked a monthly drop, after having a double-whammy from the increased dovish expectations surrounding the Federal Reserve (Fed) on one hand. On the other hand, concerns over the Fed’s independence sapped investors’ confidence in the US currency. Read more…

GBP/USD trades with positive bias above 1.3500; modest USD strength caps gains

The GBP/USD pair kicks off the new week on a positive note and holds steady above the 1.3500 psychological mark during the Asian session. Moreover, the fundamental backdrop suggests that the path of least resistance for spot prices is to the upside.

The Bank of England’s (BoE) cautious rate cut last month marks a big divergence in comparison to the growing acceptance that the Federal Reserve (Fed) will lower borrowing costs at least twice by the end of this year. This, in turn, has been a key factor behind the British Pound’s (GBP) relative outperformance against its American counterpart and validates the near-term positive outlook for the GBP/USD pair. Read more…