GBP/USD extends gains near 1.2630 on subdued US Dollar

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GBP/USD Forecast: Bulls maintain the pressure, aim for 1.2700 and beyond

The British Pound retains its strength against the US Dollar, with GBP/USD comfortably trading above the 1.2600 threshold after peaking on Monday at 1.2644, its highest since last August. On the one hand, the GBP benefited from hawkish comments from Bank of England (BoE) officials. On the other hand, the US Dollar stays on the back foot amid speculation the Federal Reserve (Fed) is done with rate hikes and will soon move in the opposite direction. Read more…

GBP/USD extends gains near 1.2630 on subdued US Dollar

GBP/USD continues its winning streak that began on Thursday, trading higher around 1.2630 during the Asian session on Tuesday. The Pound Sterling (GBP) shows strength against the US Dollar (USD) for the fourth consecutive day, showcasing the resilience of the UK economy. This steadfast performance comes despite the tightening measures implemented by the Bank of England (BoE). Read more…

GBP/USD: Heading towards 1.2670/1.2720 – SocGen

GBP/USD captures 1.26. Economists at Société Générale analyze the pair’s technical outlook.

GBP/USD recently broke out from a base and reclaimed the 200-DMA. This has resulted in an extended bounce leading the pair towards neckline of previous Head and Shoulders. Read more…