GBP/USD Weekly Outlook: Is Pound Sterling poised for more upside?
The Pound Sterling (GBP) broke out of its consolidative phase to the upside against the US Dollar (USD), sending the GBP/USD pair to its highest level in six months.
The USD accelerated its decline from the previous week against its major currency rivals, reaching levels not seen since October 2024. The Greenback’s downward spiral provided a fresh zest to Pound Sterling buyers, driving GBP/USD briefly above 1.3200. Read more…
GBP/USD bounces off one-month low, defends 200-day SMA and retakes 1.2900
The GBP/USD pair attracts some dip-buyers near the 1.2830 region, or over a one-month low touched during the Asian session on Monday, and for now seems to have stalled its retracement slide from a six-month peak touched last week. Spot prices currently trade around the 1.2900 round figure though the uptick lacks bullish conviction amid the gloomier global economic outlook.
US President Donald Trump’s sweeping reciprocal tariffs announced last Wednesday fueled worries about the widening trade war, which, in turn, could dent the global growth. This continues to weigh heavily on investors’ sentiment and is evident from a sea of red across the global equity markets. This is seen benefiting the US Dollar’s (USD) relative safe-haven status against its British counterpart and acting as a headwind for the GBP/USD pair. Read more…
