Pound Sterling Price News and Forecast: GBP/USD – Three reasons for the rally, two things to watch [Video]

GBP/USD could see further increases above 1.3180 [Video]

GBP/USD has been trading in an upward sloping channel over the last seven weeks, trying to surpass the 1.3180 resistance level.  Technically, the price is still holding above the bullish crossover within the 20- and 40-day simple moving averages (SMAs) as well as beyond the Ichimoku cloud. The RSI indicator is standing in the positive territory and it looks ready to move towards the overbought area. However, the MACD oscillator is ticking marginally up above its trigger and zero lines. Read more...

GBP/USD Forecast: Three reasons for the rally, two things to watch

"UK rollout of Covid vaccine could start before Christmas" – Hopes for a vaccine have been the main reason for the safe-haven dollar's decline and the pound's surge. Yet also other developments are positive for the pound. 

Before discussing the upside, there is a duo of downside risks worth tackling as GBP/USD hits a two-month high. Read more...

GBP/USD outlook: Cable rises above 1.3200 barrier, inflated by risk mode on vaccine news

Cable regained traction and eventually broke above 1.3200 barrier, hitting new nine-week high in European session on Tuesday.
Risk-sensitive sterling remains inflated by vaccine news that boosted global risk mode and so far offsetting negative impact from weak UK jobs data and fears of sub-zero interest rates, but traders keep an eye on EU/UK trade talks, one of pound's key drivers.
Fresh rally also neutralizes downside risk following double daily Doji (Fri/Mon) and possible formation of bull-trap, with today's close above 1.3200 (now reverted to strong support) to confirm bullish stance and signal continuation. Read more...