GBP/USD Forecast: Pound Sterling holds above key support despite weak UK data
GBP/USD has managed to stage a rebound early Thursday before going into a consolidation phase slightly above 1.2100. The pair’s technical outlook shows that buyers remain uninterested and the US Dollar’s market valuation is likely to drive the action in the second half of the day. Read more…
GBP/USD surrenders modest intraday gains, seems vulnerable near multi-week low
The GBP/USD pair attracts fresh selling in the vicinity of mid-1.2100s on Thursday and retreats to the lower end of its daily range during the mid-European session. The pair is currently placed below the 1.2100 mark and remains well within the striking distance of a nearly three-week low touched on Wednesday, with bearish still awaiting a sustained break below a technically significant 200-day SMA. Read more…
GBP/USD eases from daily high post-UK GDP, holds above 1.2100 mark amid weaker USD
The GBP/USD pair attracts some buying on Thursday and reverses a major part of the previous day’s slide to a nearly three-week low. The pair sticks to its intraday gains above the 1.2100 mark, though retreats a few pips in reaction to the weaker-than-expected UK macro data. Read more…
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- Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-holds-above-key-support-despite-weak-uk-data-202212221525
