GBP/USD eyes key 1.4115 support amid firmer US dollar

GBP/USD is looking to extend the correction from three-year highs, as the sellers remain in control amid a broadly firmer US dollar and bearish technical setup.

The US dollar continues to trade on the front foot across its major rivals, as the cautious trading seen in the European equities fuels flight to safety in the buck.

GBP/USD has again rejected the 1.4238/46 highs with a bearish “reversal day” having been established, raising the prospect of further weakness in the sideways range of the past three months, the Credit Suisse analyst team reports. Read more…

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GBP/USD to suffer further weakness on a break below 1.4091 – Credit Suisse

GBP/USD has again rejected the 1.4238/46 highs with a bearish “reversal day” having been established, raising the prospect of further weakness in the sideways range of the past three months, the Credit Suisse analyst team reports.

“GBP/USD has retested and again seen a rejection of the 1.4238/46 highs with a bearish “reversal day” having been established. This sees a more decisive topside rejection and raises the prospect of further weakness in the sideways range of the past three months.” Read more…

GBP/USD: Upside risks relative to BoE expectations, sterling’s gains to persist – MUFG

After underperforming in April, the pound bounced back in May and was the top performing G10 currency. Looking ahead, economists at MUFG Bank see continued GBP support and, therefore, expect the pound to extend its recent gains.

“While the post-COVID rebound is happening in all major economies, we see potential for a more vigorous initial recovery phase in the UK given the restrictions in the UK were generally more severe than elsewhere.” Read more…

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