GBP/USD reaches out for 1.2100 – Crypto News – Crypto News
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GBP/USD slides to over one-month low, below 1.1800 mark amid sustained USD buying GBP/USD slides to over one-month low, below 1.1800 mark amid sustained USD buying

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GBP/USD reaches out for 1.2100 – Crypto News

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GBP/USD Forecast: Pound Sterling could stage a correction in case 1.1900 holds

GBP/USD has turned south and declined to fresh monthly lows near 1.1900 with the US Dollar regaining its strength early Tuesday. The risk-positive market environment doesn’t seem to be helping the Pound Sterling find support for the time being but the technical outlook suggests that the pair is about to turn oversold.

With trading conditions normalizing following the New Year holiday, the US Dollar started to outperform its rivals in the early European session. Read more…

GBP/USD reaches out for 1.2100 as Dollar trips again ahead of US PMI

GBP/USD is holding onto the latest upswing towards 1.2100, as bulls jump back into the game amid holiday-thinned market conditions.

The main catalyst behind the pair’s renewed upside is the fresh round of selling seen in the US Dollar across the board. As the broad market sentiment is improving, the safe-haven US Dollar is fading its recovery attempts amid a subdued performance in the US Treasury bond yields. Upbeat Chinese Caixin Manufacturing is helping lift the overall market mood, with the US S&P 500 futures wiping out entire losses. Read more…

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GBP/USD slumps to fresh multi-week low near 1.1900

After having spent the Asian session in a very tight range slightly below 1.2100, GBP/USD fell sharply in the European morning and touched its lowest level in a month near 1.1900. The pair was last seen losing 1.1% on the day at 1.1915.

Despite a lack of fundamental drivers, the US Dollar started the day on a firm footing with investors returning from the New Year holiday. The US Dollar Indexwhich lost nearly 1% in the last two trading days of 2022, rose decisively and advanced above 140.70, where it was up 1.2% on a daily basis. Read more…

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