Downside remains compelling amid Russia-Ukraine war
GBP/USD Weekly Forecast: Downside remains compelling amid Russia-Ukraine war
GBP/USD accelerated its downside momentum in a busy Nonfarm Payrolls week, having reached the lowest level in three months below mid-1.3200s. Risk-aversion remained the underlying market theme, as Russian aggression in Ukraine failed to subside, despite two rounds of ‘peace talks’. Stagflation risks amid soaring oil prices will likely keep cable undermined in a relatively light week ahead, as investors remain on edge due to the ongoing Ukraine crisis. Read more…
GBP/USD Forecast: No signs of recovery as dollar capitalizes on safe-haven flows
GBP/USD failed to stage a convincing rebound on Thursday and faced selling pressure after breaking below the 1.3350 support area. The pair is edging lower toward 1.3300 on Friday and it is unlikely to reverse its direction unless there is a significant improvement in risk mood. Read more…
GBP/USD drops to fresh 2022 low, further below mid-1.3200s on upbeat NFP report
The GBP/USD pair continued lowing ground through the early North American session and weakened further below mid-1.3200s in reaction to an upbeat US monthly jobs report. The pair was last seen trading around the 1.3240-1.3235 region, down nearly 0.80% for the day. Read more…
