GBP/USD climbs to one-week highs at 1.3780 as USD holds onto losses

US dollar tumbles after Fed Chair Powell speech at Jackson Hole symposium. Cable soars on Friday, trims half of last week’s losses. The GBP/USD pair rose sharply on Friday and extended weekly gains. It is about to end the week hovering around 1.3765, up almost 150 pips from a week ago. Read more…

GBP/USD Weekly Forecast: US Nonfarm Payrolls to determine if “Death Cross” pattern is triggered

GBP/USD has benefited from optimism about covid and Fed tapering. US Nonfarm Payrolls and covid headlines promise a busy back-to-school week. Late Augusts daily chart is showing bears are in the lead. To taper or not to taper? For a full week, that has been the question, and optimism for more Fed support fueled a recovery. However, they can have only been kicked toward the all-important US jobs report, assuming that UK covid cases remain under control. Read more…

GBP/USD Forecast: Powell to the rescue? Pound technicals and fundamentals point lower

When a currency cannot hold up when all others are in suspense – its weakness is exposed. GBP/USD has been on the back foot, struggling to hold onto 1.37 while investors are holding their breaths toward a critical event. Federal Reserve Chair Jerome Powell is set to provide signals about tapering the bank’s bond-buying scheme in the virtual Jackson Hole speech. Read more…