GBP/USD targets new multi-month highs on broad USD weakness

GBP/USD Forecast: Pound Sterling targets new multi-month highs on broad USD weakness

GBP/USD benefited from the broad-based selling pressure surrounding the US Dollar (USD) and gained about 1% on Monday. The pair continues to stretch higher in the European session on Tuesday and trades at its highest level since mid-December above 1.2700.

The USD weakened against its major rivals on Monday as the disappointing macroeconomic data releases from the US and US President Donald Trump’s tariffs revived fears over an economic downturn in the US. Read more…

GBP/USD Forecast: Pound Sterling not out of the woods yet

GBP/USD registered daily losses on Thursday and Friday to end the previous week in negative territory. The pair holds steady at around 1.2600 in the European morning on Monday.

The broad-based US Dollar (USD) strength in the second half of last week caused GPB/USD to stretch lower. US President Donald Trump’s confirmation of March 4th as the date for 25% tariffs on Canadian and Mexican imports, as well as an additional 10% tariff on Chinese goods, to go into effect, combined with his argument with Ukrainian President Volodymyr Zelenskyy in the Oval Office on Friday forced investors to stay away from risk-sensitive assets heading into the weekend. Read more…