Pound Sterling Price News and Forecast: GBP/USD recedes and consolidates around 1.2230

GBP/USD finished the week on a lower note after it reached 1.234, the high of the week, but retreated as sentiment dampened. On Friday, the GBP/USD is trading at 1.2228, retracing 0.47% at the time of typing. Read More…

The GBP/USD pair comes under intense selling pressure on Friday and extends the overnight retracement slide from the vicinity of mid-1.2300s, or its highest level since February. Spot prices, however, manage to rebound a few pips from the daily low and trade above the 1.2200 mark during the early North American session, still down nearly 0.60% for the day. Read More…

The GBP/USD pair comes under heavy selling pressure on the last day of the week and retreats further from its highest level since early February, around the 1.2340-1.2345 region touched on Thursday. The selling bias remains unabated through the first half of the European session and drags spot prices back closer to the 1.2200 mark in the last hour. Read More…