GBP/USD the key hurdle is seen at the 1.2790

GBP/USD outlook: Constructive above daily Tenkan-sen but double top weighs

Early Monday’s action is holding within a narrow consolidation following Friday’s 0.6% pullback which left a double-top (1.2793/90).

Cable remains constructive above daily Tenkan-sen (1.2647) but needs to clearly break above cracked Fibo barrier at 1.2719 (61.8% of 1.3141/1.2037) to bring bulls fully in play for fresh push towards targets at 1.2800/37 (round-figure/200WMA). Read more…

GBP/USD Price Analysis: The key hurdle is seen at the 1.2790–1.2800 zone

The GBP/USD pair holds positive ground during the early European session on Monday. The uptick in the pair is bolstered by the hawkish stance of the Bank of England (BoE) to remain restrictive for an extended period to bring inflation down to its target. The major pair currently trades near 1.2688, up 0.12% on the day. Read more…

GBP outperformance on yield given the slower timing of rate cuts in the UK unlikely to last – MUFG

GBP outperformed in 2023 as rebounded from weak levels. Economists at MUFG Bank analyze Sterling’s outlook.

The GBP has outperformed in 2023 as the negative shocks from Liz Truss’ mini-budget in late 2022 and the hit to the UK’s terms of trade from higher energy and food prices have both eased. It leaves the GBP less attractively valued heading into 2024. Read more…