Pound Sterling Price News and Forecast: GBP/USD takes offer to refresh intraday low
GBP/USD bears return to the desk, after the previous day’s absence, as they approach the 1.2000 psychological manget, down 0.20% intraday near 1.2020 during early Monday.
In doing so, the Cable pair retreats from the previous support line stretched from early January amid the bearish MACD signals. It’s worth noting that the quote’s failure to cross the support-turned-resistance line from November 09, 2022, adds strength to the downside bias. Read more…
GBP/USD fades bounce off six-week low near 1.2030 as UK PMIs, Fed Minutes loom
GBP/USD retreats towards the 1.2000 psychological magnet, down 0.13% intraday on early Monday, as fresh Brexit fears join the mixed fundamentals surrounding the UK and the Bank of England (BoE). Even so, the Cable pair traders remain inactive amid the US holiday and cautious mood ahead of the key activity data.
Recently, the Telegraph came out with the news suggesting a fresh Brexit blow as it said, “UK PM Rishi Sunak forced to ‘pause’ protocol deal amid backlash from senior Tories and DUP.” It should be noted that the British media previously raised expectations of the much-awaited Brexit deal in Northern Ireland. On the same line, EU Commissioner for Interinstitutional Relations and Foresight Maroš Šef?ovi? said on Friday that they made good progress in Brexit talks with British Foreign Secretary James cleverly, as reported by Reuters. Read more…