GBP/USD attracts some buyers above the 1.2600 area

GBP/USD Forecast: Pound Sterling benefits from improving risk mood

GBP/USD lost nearly 100 pips on Friday and closed the previous week virtually unchanged. With the positive shift seen in market sentiment not allowing the US Dollar to preserve its strength early Monday, however, the pair managed to recover above 1.2600.

Reflecting the improving risk mood, the UK’s FTSE 100 Index opened higher and was last seen rising 0.7% on the day. The USD rallied decisively ahead of the weekend and caused GBP/USD to turn south. The data from the US showed that Nonfarm Payrolls rose 187,000 in August, against the market expectation of 170,000. Read more…

GBP/USD attracts some buyers above the 1.2600 area, lacks bullish conviction

The GBP/USD pair recovers some recent losses and holds above the 1.2600 mark during the early European session on Monday. The major pair currently trades around 1.2612, gaining 0.17% on the day.

Markets remain subdued due to the Labor Day holiday in the US after a busy week of economic data released. The US Bureau of Labor Statistics revealed on Friday that the US Nonfarm Payrolls (NFP) for August came in at 187K, beating the expectations of 170K and 157K in the previous reading. Read more…

GBP/USD trades with a mild positive bias around 1.2600, lacks bullish conviction

The GBP/USD pair edges higher on the first day of a new week, albeit lacks follow-through buying or build on its modest intraday gains around the 1.2600 round-figure mark.

The mixed US monthly jobs report released on Friday ensures that the Fed will leave rates unchanged at its September meeting and fails to assist the USD to capitalize on last week’s strong move up back closer to the August monthly swing high. Read more…