GBP/USD could encounter primary resistance at the psychological level

GBP/USD Price Forecast: Rises toward 1.3400 barrier near seven-month highs

The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3370 during the Asian hours on Monday. Daily chart technical analysis points to a continued bullish trend, with the pair advancing within an ascending channel pattern.

Additionally, the GBP/USD pair continues to trade above the nine-day Exponential Moving Average (EMA), reinforcing the short-term bullish momentum. However, the 14-day Relative Strength Index (RSI) has climbed above 70, indicating overbought conditions and suggesting a potential downside correction may be on the horizon. Read more…

GBP/USD extends the rally to near 1.3350 on softer US Dollar

The GBP/USD pair extends its upside to near 1.3350 during the early Asian session on Monday. The uptick of the major pair is bolstered by the softer US Dollar (USD) broadly as traders become increasingly confident that the economic policies of US President Donald Trump will lead the economy to a recession. 

UK Prime Minister Keir Starmer and US President Donald Trump discussed “ongoing and productive” trade talks in their first call since Trump imposed tariffs on UK goods. According to a Downing Street official, Starmer emphasized his commitment to “free and open trade and the importance of protecting the national interest.” Read more…

GBP/USD Forecast: Pound Sterling remains on track to post weekly gains

GBP/USD moves sideways in a tight channel above 1.3250 in the European session on Friday after posting small gains on Thursday. The pair remains on track to end the week in positive territory.

The US Dollar (USD) Index, which tracks the USD’s performance against a basket of six major currencies, closed marginally higher on Thursday, supported by the upbeat weekly Initial Jobless Claims data. The number of first-time applications for unemployment benefits declined to 215,000 from 224,000 in the previous week. Read more…