British Pound: Range trade with upside risk against US Dollar – Scotiabank
Pound Sterling Price News and Forecast: GBP/USD rebounds as soft JOLTS and Oil decline pressure USD
The pound just closed its strongest week against the dollar in months, ending July up more than 1% and holding just below $1.35. Two factors are driving the move.
Market sentiment improved following a drop in oil prices, as investors grew hopeful that the US and Iran may reach an agreement to restore shipping through the Strait of Hormuz. Such a development would reduce inflation risks and the likelihood of further rate hikes.
GBP/USD under pressure: Pound lags behind peers
We still holding our previous projection for the GBPUSD As we see over the Daily chart a possible triangle formation may hold market inside 1.3140-80 support and 1.3505-55 resistance Below 1.3140 more drops is likely SUPPORT RESISTANCE LEVEL1 1.3280 1.3505-55 LEVEL2 1.3160 1.3655 LEVEL3 1.3010 1.3780
British Pound: Pullback seen within 1.3400–1.3475 band against US Dollar – UOB
GBP/USD Price Forecast: Downward-sloping trendline near 1.3470 remains key barrier
Looking at the 4-hour chart, the pair settled above 1.3400, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a move above the 61.8% Fib retracement level of the downward move from the 1.3555 swing high to the 1.3273 low.
Pound Sterling Price News and Forecast: GBP/USD slips as strong ISM data revives the US Dollar
The Pound to Canadian Dollar (GBP/CAD) exchange rate recovered to 1.8895 at Friday's close, reversing much of its early-week decline as Sterling strengthened following the Bank of England decision. Canadian trade and employment figures will provide the main tests for the GBP/CAD this week.
The Pound to Australian Dollar (GBP/AUD) exchange rate ended Friday near 1.9189 after a volatile final week of July left the pair little changed for the month. UK business surveys and Australian spending and trade figures will shape direction in the days ahead.