Pound Sterling Price News and Forecast: GBP/USD bears are holding up the bullish correction below 1.2050

GBP/USD is back under pressure in midday US trade after a series of data has kept a lid on attempts to correct the major sell-off that ensued following a round of negative data for cable. At the time of writing, GBP/USD is trading at 1.2005 and down 1.35%, pressured within the day’s range of between 1.1989 and 1.2181, retreating from near two-week lows and on course for its sharpest one-day decline this month. Read More…

The GBP/USD pair comes under intense selling pressure on Wednesday and extends the previous day’s late pullback from over a one-week high. The downfall remains uninterrupted through the mid-European session and drags spot prices below the key 1.2000 psychological level in the last hour. Read More…

GBP/USD is now seen navigating within the 1.2040-1.2260 range in the short-term horizon, suggest UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Read More…