GBP/USD: Negative bias capped by 1.3350 – UOB
Pound Sterling Price News and Forecast: GBP/USD may fall toward the three-month low of 1.3218
GBP/USD Price Forecast: Tests 1.3300 support as bearish bias prevails
GBP/USD bounces from lows as US Dollar retreats
The Pound to Dollar exchange rate edged higher at the start of the week as improving market sentiment reduced demand for the safe-haven US Dollar. Latest — Exchange Rates:Pound to Dollar (GBP/USD): 1.33215 (+0.57%)Euro to Dollar (EUR/USD): 1.15052 (+0.61%)Dollar to Japanese Yen (USD/JPY): 159.121 (-0.27%) DAILY RECAP: The US Dollar.
The Pound to Canadian Dollar exchange rate traded sideways at the start of the week as investors awaited interest rate decisions from both the Bank of England and the Bank of Canada. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.82225 (+0.32%)Euro to Canadian Dollar (EUR/CAD): 1.5738 (+0.36%)Dollar to Canadian Dollar.
GBP/USD Price Analysis: Cable rebounds as markets digest US–Iran war
There is a medium-term descending price channel which continues to hold the price lower, but the price action is ascending from the low and looks likely to test pivotal resistance.
The Pound to Australian Dollar exchange rate struggled last week as rising expectations for further Reserve Bank of Australia interest rate hikes boosted demand for the ‘Aussie'. Latest — Exchange Rates:Pound to Australian Dollar (GBP/AUD): 1.89439Pound to Dollar (GBP/USD): 1.32248Australian Dollar to Dollar (AUD/USD):.
GBPUSD met the target of 1.3250-70 and managed to add more of a drop last week. As we see from the Intraday chart, prices face a support trend around 1.3200, which could give the chance for a rebound towards 1.3460-80.
GBPUSD hoping for support The pound remains under intense pressure after breaking the 1.3300 level, which has led to multi-month lows. The pair hopes to stage a bounce away from the psychological level of 1.3200 as the recovery theme remains intact from a short-term perspective.
The Pound to Dollar exchange rate weakened last week as investors sought the safety of the US Dollar amid rising energy prices and disappointing UK economic data. Latest — Exchange Rates:Pound to Dollar (GBP/USD): 1.32248 Euro to Dollar (EUR/USD): 1.14168Dollar to Japanese Yen (USD/JPY): 159.7265 DAILY RECAP: The US Dollar (USD).