The pound sterling extends its period of decline as yields continue to rise in the UK
The pound sterling (GBP) extended its losing streak against its main competitors at the beginning of the week. The British currency continues to come under selling pressure as rising yields on 30-year British government bonds deepen concerns about the country’s economic prospects. Read more…
GBP/USD Price Forecast: Drops to Lowest Since November 2023 on Relentless USD Buying
GBP/USD remains under bulky selling pressure for the fifth day in a row and fell to its lowest level since November 2023 around the 1.2125 region during Monday’s Asian session. Moreover, the fundamental backdrop appears to be tilted in favor of bearish traders, although slightly oversold conditions on the daily chart require caution before positioning for further losses. Read more…
GBP/USD remains near its lowest level since November 2023, around 1.2200
The GBP/USD pair is entering a bearish consolidation phase at the beginning of the up-to-date week and remains near the lowest level since November 2023 reached on Friday near the 1.2200 level during the Asian session. Moreover, the fundamental backdrop appears to be tilting in favor of bearish traders and suggests that the path of least resistance for spot prices remains down. Read more…
