Pound Sterling Price News and Forecast: GBP/USD climbs above 1.2050 post US data

GBP/USD is recovering some ground after hitting a daily low of 1.1921 as speculations for the Brexit deal struck in Northern Ireland grow, which could bolster the Pound Sterling (GBP) in the near term. In addition, worse-than-expected US economic data are a headwind for the greenback. At the time of typing, the GBP/USD is trading at 1.2052, above its opening price by 0.65%. Read More…

The GBP/USD pair defends a technically significant 200-day Simple Moving Average (SMA) on Monday and attracts some buyers in the vicinity of the monthly low. Spot prices stick to intraday gains, around the 1.1965-1.1975 region through the early part of the European session and for now, seem to have snapped a three-day losing streak. Read More…

In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD is expected to accelerate losses on a break below the 1.1870 level. Read More…