Pound Sterling Price News and Forecast: GBP/USD: Bulls spring to life on backside of bear trend

Forex markets are unforgiving and prices are two-way as volume kicks in again following the slow start to the week on Monday that was put down to a US holiday. GBP/USD rallied from a 50% mean reversion of Friday’s bullish run and broke to 1.2150 on Tuesday, breaking a key resistance around 1.2050 which has invalidated the prior downside bias for the time being as the following top-down analysis will illustrate. Read More…

The GBP/USD pair reverses an early European session dip to levels just below the 1.2000 psychological mark and rallies over 125 pips from the daily low. Spot prices turn positive for the third straight day and climb beyond the 1.2100 round figure, hitting a four-day high in the last hour. Read More…

The GBP/USD pair comes under some selling pressure on Tuesday and stalls its recent recovery from the 1.1915 area, or the lowest level since January 6, touched last week. Read More…