GBP/USD Price Forecast: Rises toward 1.3100 post strong UK jobs report The Pound Sterling recovered some ground and rose 0.18% on Tuesday against the US Dollar following a strong UK jobs report that pushed the unemployment rate lower, while the economy added over 373,000 jobs, crushing estimates of 250,000. At the time of writing, the...
Tag: Technical Analysis
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GBP/USD Price Forecast: Rises toward 1.3100 post strong UK jobs report
GBP/USD climbs 0.18% after strong UK jobs report shows over 373,000 jobs added, beating forecasts. Despite upward momentum, the pair remains within the 1.3000-1.3100 range, testing key resistance levels. Break above the 50-day moving average at 1.3112 could open the path to the 1.3174 October high. The Pound Sterling recovered some ground and rose 0.18%...
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GBP/USD rebounds after strong UK employment data
GBP/USD rebounds into the 1.3100s after a strong UK labor market data supports the Pound. The pair recovers earlier losses from a stronger US Dollar as markets continue dialing back bets of aggressive interest-rate cuts. GBP/USD reaches a key technical support zone. GBP/USD rebounds into the 1.3080s on Tuesday as a strong UK labor market report strengthens the Pound Sterling...
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GBP/USD Price Analysis: Rises to near 1.2750 ahead of UK jobs data
GBP/USD could find resistance around the psychological level of 1.2800. The momentum indicator MACD suggests a confirmation of a bullish trend for the pair. The 21-day EMA at 1.2712 appears as the immediate support, followed by the lower boundary of the rising channel at 1.2700. GBP/USD extends its gains for the second successive session ahead...
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Pound Sterling keeps pushing against 1.2430 support weighed by weak UK employment data
The Sterling has resumed its broader bearish trend during Tuesday’s London trading session. The uninspiring UK employment figures have endorsed the theory that the BoE might start cutting rates ahead of schedule, which has punished the GBP. Read More… The Pound Sterling (GBP) remains on the backfoot in Tuesday’s early New York session. The GBP/USD pair remains...
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GBP/USD Forecast: UK jobs report does little to help Pound Sterling rebound
GBP/USD trades below 1.2450 in the European session on Tuesday. ILO Unemployment Rate in the UK rose to 4.2% in the three months to February. The cautious market mood could cap the pair’s recovery attempts. GBP/USD staged a rebound toward 1.2450 after setting a new multi-month low near 1.2400 earlier in the day on Tuesday....