GBP/USD Forecast: Pound Sterling turns fragile after weak PMI data
GBP/USD finds it difficult to keep its footing following Monday’s recovery and trades marginally lower on the day at around 1.3500. The technical outlook suggests that the pair remains bearish in the short term.
Following a quiet Asian session, GBP/USD lost its traction as the disappointing Purchasing Managers’ Index (PMI) data weighed on Pound Sterling. Read more…
GBP/USD London continuation trade [Video]
In this forex trading video we cover the entry,exit reasons and management for our forex trade today on the GBP/USD and how you can trade the forex structure on daily, four, hourly, and 15 minute charts and how you can target the next support/resistance. In the last few videos we covered the steps to find and trade structure. In this video you will learn how we traded the GBP/USD structure today using the trading charts and price action. Read more…
GBP/USD Forecast: Pound Sterling remains below key technical resistance levels
After touching its highest level since early July above 1.3720 last Wednesday, GBP/USD made a sharp U-turn and suffered large losses in the second half of the week to close in negative territory. The pair holds its ground early Monday and clings to small gains at around 1.3500.
The Federal Reserve’s (Fed) cautious tone on further policy easing supported the US Dollar (USD), while the Bank of England’s (BoE) expected decision to maintain the status quo failed to help Pound Sterling find demand, causing GBP/USD to remain under bearish pressure. Read more…