GBP/USD looks into the abyss, new weekly ranges in sight

GBP/USD bears taking control below critical weekly support. GBP/USD tumbled around 1.27% on Tuesday and below the July-Sep lows amid risk aversion as a steep rise in US Treasury bond yields and fears for the economic impact of a shortage of gas in Britain overshadowed rate rise expectations from the Bank of England. Read more…

Technical analysis: GBP/USD steering forces feeble around support base

GBPUSD is consolidating in the proximity of the support foundation of 1.3564-1.3621, which has defended the positive structure from the beginning of February. The converging simple moving averages (SMAs) are currently lacking a clear direction in trend. Read more…

GBP/USD Forecast: Dual energy crisis set to fuel further falls, levels to watch

GBP.USD has been under pressure as China grapples with power outages. Britain’s problems at the fuel pump weigh on the pound. Tuesday’s four-hour chart is showing bears are in the lead. UK rate hikes coming? Sterling has found little comfort in Governor Andrew Bailey’s repeated comments about raising rates before halting bond buys as a duo of energy issues looms. Read more…