GBP/USD Forecast: Pound Sterling bulls hesitate as 1.2400 resistance stays intact
GBP/USD failed to benefit from the modest US Dollar (USD) weakness seen in the American session on Monday and closed the day virtually unchanged. Following a short-lasting recovery attempt toward 1.2400 early Tuesday, the pair lost its traction and came in within a touching distance of the multi-month low it set at 1.2730. Read more…
GBP/USD: Move back below 1.20 seems inevitable – SocGen
Kit Juckes, Chief Global FX Strategist at Société Générale, is worried about Sterling.
The more the market worries about the growth outlook in the UK, the more the prospect of further rate hikes beyond this week will a) fade away and b) scare investors. Read more…
GBP/USD: Move through 1.2550 needed to suggest more sustainable gains – Scotiabank
GBP/USD is holding a narrow consolidation range between support at 1.2370 and resistance at 1.2410. Economists at Scotiabank analyze Cable’s outlook.
Short-term trend dynamics are bearish which should limit the scope for gains in the near term. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-move-back-below-120-seems-inevitable-202309191302