GBP/USD turns positive on the day above 1.4160

GBP/USD reversed its direction after dropping toward 1.4100. US Dollar Index retreated modestly from daily highs. UK PM Johnson says they are on track to end restrictions on June 21. The GBP/USD pair fell to a fresh daily low of 1.4112 during the European session but didn’t have a difficult time erasing its losses. As of writing, the pair was up 0.1% on a daily basis at 1.4162. Read more…

GBP/USD Forecast: Buyers surge on dips, but higher highs at doubt

The GBP/USD pair fell to 1.4111, its lowest for the week, now trading around 1.4170 as demand for the dollar receded during US trading hours. It is notable that once again, the pair depended solely on whether investors decide to buy or sell the greenback. UK news were mixed, as data was soft, but Prime Minister Boris Johnson remains optimistic about reopening the economy, affirming that the UK is on track to fully reopen on June 21. Read more…

GBP/USD bulls bet on BoE action, testing bearish commitments at 4-hour resistance

GBP/USD is trapped between 4-hour support and resistance. Traders focus on likely ongoing inflation prospects in a recovering UK economy, fulling higher GBP prices. GBP/USD is currently trading at 1.416 at the time of writing and has travelled between a high of 1.4183 and a low of 1.4111. Sterling drifted higher against the US dollar despite the risks of the COVID variant, first found in India, which could set back the final phase of reopening in Britain on June 21. Read more…