GBP/USD is holding steady above 1.2700 with subdued USD price action
The GBP/USD pair is trading with delicate positive sentiment for the third day in a row and is holding steady just above the 1.2700 level during Thursday’s Asian session. However, spot prices lack bullish conviction and remain below the weekly high reached on Monday.
The US dollar (USD) continues its sideways consolidation price move as investors prefer to wait on the sidelines ahead of the release of the US non-farm payrolls (NFP) report on Friday. This, in turn, is seen as a key factor that acts as a tailwind for the GBP/USD pair. That said, expectations for a less dovish decision from the Federal Reserve (Fed) are causing a moderate rebound in U.S. Treasury yields and acting as a tailwind for the dollar. Read more…
GBP/USD Price Forecast: Tries to Break 1.2700, Swings Around 1.2650
The GBP/USD pair oscillated between gains and losses, trapped in the 1.2630-1.2700 range for the third day in a row. Despite exceeding the 1.2700 level, buyers are still unable to raise prices following dovish comments from the Governor of the Bank of England (BoE), Andrew Bailey.
The GBP/USD downtrend was halted as the pair rose towards 1.2749 before falling below 1.2700. The momentum shows that neither buyers nor sellers have the power here, with the Relative Strength Index (RSI) holding steady near the neutral level. Read more…
