Pound Sterling Price News and Forecast: GBP/USD gains momentum, nears two-month highs

The GBP/USD extended its gains during the North American session, after hitting a daily low of 1.2446, though some hawkish remarks by officials of the Bank of England (BoE) sponsored a leg-up back above the 1.2500. At the time of writing, the pair is trading at 1.2529, gaining 0.20%, slightly below the two-month high of 1.2559. Read More…

The GBP/USD pair continues to gain positive traction for the third successive day and climbs to over a two-month peak during the first half of trading action on Tuesday. Spot prices maintain the bid tone around the 1.2530-1.2535 region through the early European session and seem poised to build on the ascending trend in the wake of the underlying bearish sentiment surrounding the US Dollar (USD). Read More…

There still seem to be room for GBP/USD to reach the 1.2580 zone in the near term, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…