Pound Sterling Price News and Forecast: GBP/USD Brexit uncertainty could limit Pound sterling's rebound

GBP/USD outlook: Bear-trap under 200DMA looks for more upside action to be confirmed

Cable remains constructive at the start of the week, although with limited upside so far, following Friday’s bullish daily candle with long tail, which generated positive signal on strong downside rejection under pivotal 200DMA support (1.1937) and possible bear-trap.

On the other hand, two consecutive weekly Dojis signal strong indecision and lack of direction, which is additionally supported by conflicting signals from daily chart. Read more...

GBP/USD Forecast: Brexit uncertainty could limit Pound sterling's rebound

Following last week's indecisive action, GBP/USD has managed to stage a recovery early Monday toward mid-1.2000s. In the absence of high-tier data releases from the UK and the US, investors will keep a close eye on Brexit-related developments. In the second half of the day, trading conditions are likely to thin out with US markets remaining closed in observance of Presidents' Day.

On Friday, EU Commissioner for Interinstitutional Relations and Foresight Maroš Šefčovič said that they made good progress in Brexit talks with British Foreign Secretary James cleverly. Read more...

GBP/USD surrenders modest intraday gains amid modest USD uptick, holds above 1.2000 mark

The GBP/USD pair attracts some sellers near the 1.2055 area on Monday and stalls its recovery move from the lowest level since January 6 touched on Friday.

The pair retreats to the lower end of its daily range during the first half of the European session, though manages to hold above the 1.2000 psychological mark.

Hopes of an imminent breakthrough in trade negotiations regarding the Northern Ireland Protocol support the Pound Sterling. Read more...