Pound Sterling Price News and Forecast: GBP/USD turns bearish as mood sours

GBP/USD Forecast: Pound Sterling turns bearish as mood sours

GBP/USD closed in negative territory on Thursday and snapped a three-day winning streak. The pair struggles to hold its ground early Friday and tests 1.2700.

The US Dollar erased a portion of Wednesday losses in the European session on Thursday. Although the soft producer inflation data limited the USD’s rebound in the early American session, the souring risk mood helped the currency regather its strength later in the day. Read more…

GBP/USD Forecast: Pound Sterling needs to stabilize above 1.2830 to extend uptrend

GBP/USD gathered bullish momentum and reached its highest level since early March above 1.2850 on Wednesday. The pair erased a portion of its daily gains in the late American session but closed in positive territory for the third consecutive day. Early Thursday, GBP/USD struggles to preserve its bullish momentum and trades below 1.2800.

The US Dollar (USD) came under heavy selling pressure and fuelled GBP/USD’s rally in the early American session following soft inflation prints on Wednesday. Read more…