GBP/USD Price Forecast: Sees fresh downside below 1.3300 amid geopolitical risks
The GBP/USD pair claws back its significant early losses during the European trading session on Monday, but is still 0.6% down to near 1.3400. The pair is still under pressure as the Pound Sterling (GBP) underperforms due to risk-off market sentiment amid the war between the United States (US), Israel, and Iran.
S&P 500 futures plunged almost 1% ahead of the US markets’ opening, showing depressed appetite for risky assets. At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.6% higher to near 98.20. Read more…
GBP/USD Weekly Forecast: Pound tests 1.3450 support ahead of key US jobs data
The Pound Sterling (GBP) entered a bearish consolidation phase against the US Dollar (USD), after having tested critical support near the 1.3450 level on several occasions.
GBP/USD hovered close to the monthly lows of 1.3434 reached a week ago, closing almost unchanged on a weekly basis. The listless performance in the major could be attributed to the USD’s subdued trading action and a largely risk-averse market environment. Read more…
