The Pound to Dollar (GBP/USD) exchange rate found support below 1.32 during the first week of April and has rallied strongly to highs around 1.3580 as the dollar has lost ground while the Pound has been resilient in global markets. RBC notes the potential for short-term volatility, especially given the Middle East situation, but the bank.
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EUR/GBP: Recovery extends as energy risks ease – MUFG
GBP/USD has enjoyed a stellar run of late, capitalizing on a weakening US Dollar and a shift in global risk sentiment. However, as we move into the tail end of the week, “Cable” is finding the air a bit thin near the 1.3600 handle, setting the stage for a battle between trend followers and mean-reversion traders.
The US Dollar Index (DXY) hovers near 98.20 as Iran diplomacy lifts risk appetite. Will the fading safe-haven demand spark a major breakout for EUR/USD and GBP/USD?
GBPUSD managed to pass above the resistance of 1.3485 to meet the first target at 1.3580. As we see over the chart, the market is facing the first support zone at 1.3485, where if prices remain above it, more advance will be expected with resistances at 1.3580 and 1.3710-35.
GBP/USD confirms a major daily structural breakout, shifting the macro bias to "buy the dips" after reclaiming key moving averages. This analysis outlines the critical support/resistance levels (1.3500, 1.3696) and provides bullish/bearish scenarios as "Cable" consolidates near the 1.3600 hurdle.
When are the UK data releases and how could they affect GBP/USD?
GBP/USD holds near 1.3570 as Iran talk optimism cools