Pound Sterling Price News and Forecast: GBP/USD: Bears are waiting to pounce below 1.2800

GBP has been the market’s darling this week so far as the initial balance extends higher and higher. However, as the following charts illustrate, there could be a turnaround on the cards soon. Read More…

The Pound Sterling (GBP) is looking for a break above the immediate resistance as the United Kingdom’s government looking beyond monetary tools to bring down stubborn inflation. The recovery in the GBP/USD pair has faded as the adaptation of new fiscal measures such as cutting wages of public sector employees by the British administration are losing their impact. The British government also asked companies to bring down profit margins to tame sticky inflation, which might help trim fears of a bleak economic outlook. Read More…

The GBP/USD pair is trading back and forth in a narrow range of 1.2700-1.2750 in the early London session. The upside in the Cable is restricted as higher inflationary pressures in the United Kingdom have dampened its economic outlook while the downside is supported due to correction in the US Dollar Index (DXY). Read More…