Pound Sterling Price News and Forecast: GBP/USD at fresh five-month lows and bearish

GBP/USD tumbles to 1.3661, five-month low

GBP/USD dropped further during the American session and bottomed at 1.3661, reaching the lowest intraday level since February. It then trimmed losses, rebounding toward 1.3700. It remains in negative territory, down almost a hundred pips, about to post the lowest close since March, below the 200-day moving average. Risk aversion weighed on the sterling. Global markets are having the worst day of the year so far. European indices dropped 3% on average and in Wall Street, the Dow Jones drops 2.10%. Read more…

GBP/USD Forecast: At fresh five-month lows and bearish

The GBP/USD pair fell to 1.3655, a level that was last seen in February 2021. The dollar benefited from its safe-haven condition, while the pound suffered from Brexit woes. News over the weekend suggested that the UK will demand the EU more flexibility over the Northern Ireland Protocol. UK Brexit Minister David Frost is said to be preparing an announcement on the matter this week. When asked about the protocol, Frost said that it will always have to be a treaty due to the special situation of Northern Ireland. Read more…

GBP/USD Forecast: Sterling free-falls on Freedom Day, Delta risks drop under double bottom

GBP/USD has tumbled to a three-month low amid growing covid concerns. This “pingdemic” as the British press dubbed it threatens the normal work of shops and supermarkets just as the country is supposed to celebrate “Freedom Day.” Almost all covid-related regulations have expired at midnight, opening the door to a return to normal. However, isolations, high cases – and the risk of an explosion of infections, hospitalizations and deaths are weighing heavily on sterling. Read more…