Pound Sterling Price News and Forecast: GBP/USD retraces below 1.2800 on a strong USD

GBP/USD retraces after hitting a new year-to-date (YTD) high of 1.2848 in the last week, down 0.34% back at the 1.2700 handle, amidst a strong US Dollar (USD). Expectations for additional tightening by the US Federal Reserve (Fed) and an “overbought” US equity market dampened investors’ mood. At the time of writing, the GBP/USD is trading at 1.2755 after hitting a high of 1.2806. Read More…

The GBP/USD pair has sensed selling pressure near the round-level resistance of 1.2800 in the London session. The Cable is facing the heat as the market mood has turned indecisive due to the extended weekend in the United States. Read More…

In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD could still set sail to the 1.2900 region in the next few weeks. Read More…