GBP/USD Weekly Forecast: Pound Sterling remains vulnerable amid Mideast crisis
The Pound Sterling (GBP) showed some resilience against the US Dollar (USD), holding gains from the previous week’s recovery, when the Bank of England (BoE) opted for a hawkish hold. The pair’s outlook remains mildly bearish as US-Iran talks on a potential de-escalation or ceasfire remain clouded in uncertainty.
GBP/USD extended its bearish consolidation phase into a second straight week as the bull-bear tug-of-war continued in the face of looming risks surrounding the Middle East war and renewed expectations of BoE rate hikes this year. Read more…
Pound Sterling moves little following UK Retail Sales data
GBP/USD halts its three-day losing streak, trading around 1.3330 during the early European hours on Friday. The pair holds ground following the release of the United Kingdom’s (UK) Retail Sales figures.
The UK Retail Sales declined by 0.4% month-over-month (MoM) in February, against the expected -0.8% reading. The annual retail sales increased by 2.5%, against the expected 2.1%. Read more…
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