GBP/USD Rises toward highs since February 2022 near 1.3450

GBP/USD Price Forecast: Rises toward highs since February 2022 near 1.3450

The GBP/USD pair extends its winning streak for the third successive session, trading around 1.3430 during Wednesday’s Asian hours. The technical analysis of the daily chart suggests a persistent bullish bias as the pair remains within an ascending channel pattern.

However, the GBP/USD pair continues to rise above the nine-day Exponential Moving Average (EMA), suggesting the short-term price momentum is stronger. Additionally, the 14-day Relative Strength Index (RSI) is rising above 50, reinforcing a bullish bias. Read more…

GBP/USD drifts higher ahead of late-week run of UK and US data

GBP/USD rose slightly on Tuesday, climbing toward (but still not able to capture) the 1.3400 handle. Cable is heading into a run of key inflation and business outlook data releases, with UK Consumer Price Index (CPI) inflation slated for Wednesday, with a double-bang of UK and US Purchasing Managers Index (PMI) survey results due on Thursday.

Trade headlines remain the key driver for global markets this week. Investors remain hopeful that deals will be struck with the US that will encourage the Trump administration to take the tariff gun away from its own economy’s head, but the steady drift into the unknown is beginning to limit bullish sentiment. The Trump administration is rapidly approaching its own self-imposed 90-day deadline on its own “reciprocal tariffs” package. While some potential trade deals have been announced, nothing concrete has been forthcoming. Read more…