GBP/USD Price Analysis: Bulls are approaching for air but face strong bearish pressure
GBP/USD has been pushed into cycle lows on Thursday before major data from the united states on Friday. While you can find no signs of an imminent correction on the longer time frames, the 4-hour chart is beginning to pull back gives rise to a potential possibility to the upside.The next illustrates the purchase price action and structures on the weekly, daily and 4-hour charts. Read more…
GBP/USD prints fresh 2-year lows below 1.1500 as US dollar soars
A stronger US Dollar pushed GBP/USD to levels under 1.1500 for the very first time since March 2020. The greenback is rising sharply following upbeat US economic data, amid risk aversion and higher yields. The pair bottomed at 1.1497 and rebounded toward 1.1550, trimming losses. The US Dollar Index reaches the best level since 2002, up 1% for your day. The dollar was trading in positive ground and rose further following US ISM Manufacturing August report that showed better-than-expected numbers, including a recovery in the employment index and a slowdown in prices. Earlier, the weekly jobless claims report also came in above expectations. Attention now turns to the Non-farm payrolls are accountable to be released on Friday. Read more…
GBP/USD Forecast: Pound eyes fresh multi-year lows amid risk-aversion
GBP/USD has didn’t get rid of the bearish pressure after having modestly rebounded from the multiyear low it touched at 1.1569 early in the day. The risk-averse market environment isn’t allowing the British pound to get demand and the near-term technical outlook implies that there’s more room on the downside for the pair. Read more…
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