Pound Sterling Price News and Forecast: Harmonic bearish patterns expose 1.22000

In the prior analysis, GBP/USD Price Analysis: Bulls in control and eye 1.2350, it was explained that the bulls took out a key resistance and so long as 1.2150 holds, there would be prospects of a rally towards 1.2350 and then 1.2450 for the days ahead.

GBP/USD strengthens and tests levels above 1.2230

The GBP/USD is up on Thursday for the second day in a row but the upside remains limited by the 1.2230 area. Risk appetite and a weaker dollar are supporting the pair. Read More…

GBP/USD consolidates in a range around 1.2200 mark as traders await fresh catalyst

The GBP/USD pair struggles to capitalize on the overnight recovery from the 1.2100 neighbourhood, or the weekly low and oscillates in a range through the early European session on Thursday. The pair is currently trading around the 1.2200 round-figure mark, nearly unchanged for the day. Read More…