Pound Sterling Price News and Forecast: GBP/USD soars above 1.2500 as a bullish-engulfing pattern emerges

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GBP/USD bounces off last week’s low of 1.2443 and rises above the 1.2500 figure as a bullish-engulfing technical pattern emerges. Factors like a soft US Dollar (USD) and appetite for riskier assets seem to be behind GBP/USD’s recovery. At the time of writing, the GBP/USD is trading at 1.2515. Read More…

The GBP/USD pair stages a goodish intraday bounce from a two-week low touched earlier this Monday and recovers a part of its heavy losses recorded over the past two sessions. Spot prices climb back closer to the 1.2500 psychological mark during the first half of the European session and, for now, seem to have stalled the retracement slide from over a one-year high, around the 1.2680 region set last week. Read More…

GBP/USD is gathering strength for a recovery move from near the 1.2450 support as the US Dollar Index (DXY) has demonstrated a loss in the upside momentum after printing a high of 102.75 in the early European session. The Cable is expected to gain strength after surpassing the immediate resistance of 1.2480. Read More…

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