GBP/USD gains through 1.2645/1.2650 in the next day

GBP/USD Forecast: Bulls encouraged as Pound Sterling stabilizes above important level

GBP/USD benefited from the improving risk mood on Tuesday and gained 0.5%, erasing a large portion of Monday’s losses in the process. Early Wednesday, the pair trades marginally higher on the day above 1.2600.

The downward correction seen in the US Treasury bond yields caused the US Dollar (USD) to weaken against its major rivals on Tuesday. In the absence of high-tier data releases, investors will continue to pay close attention to the action in bond markets. Read more…

GBP/USD: Gains through 1.2645/1.2650 in the next day or so should bolster the recovery – Scotiabank

GBP/USD outperforms on the day as Cable regains 1.2600. Economists at Scotiabank analyze Pound Sterling’s (GBP) outlook.

Sterling has recovered all of Monday’s hefty losses and nearly half of the drop seen since last Friday. Regaining 1.2600 – the base of the trading range since mid-December – is a technical positive. There is work still to do, however, and trend dynamics are still leaning GBP-bearish. Read more…

Pound Sterling extends recovery amid improvement in investors’ risk appetite

The Pound Sterling (GBP) shows bullish moves in the European session on Wednesday as the appeal for risk-perceived assets has improved significantly. The GBP/USD rebounds strongly despite increasing prospects of early rate cuts by the Bank of England (BoeE). After BoE Chief Economist Huw Pill, BoE Deputy Governor Sarah Breeden has also emphasized how long interest rates should remain restricted. Recent commentaries from BoE policymakers show that the central bank could begin reducing interest rates sooner. Read more…