GBP\/USD Forecast: Pound Sterling could stretch lower if 1.2900 support fails<\/h2>\n
GBP\/USD recovered modestly after dipping below 1.2900 on Monday but closed the day in the red. The pair stays in a consolidation phase in the European session as market participants stay on the sidelines ahead of key macroeconomic events.<\/strong><\/p>\n The risk-averse market environment on growing concerns over an aggressive US trade policy weighing on the economic outlook caused GBP\/USD to stretch lower at the beginning of the week. Read more…<\/a><\/p>\n <\/a><\/p>\n GBP\/USD continues to consolidate after the rebound from the January low of 1.2099 ran out of steam around the 1.3000 area in mid-March.<\/strong> Uncertainty surrounding Trump\u2019s tariffs is likely making it difficult for the bulls to charge ahead with confidence even as the recent UK economic data<\/a> have been satisfactory.<\/p>\n Following the pullback, the 20-day simple moving average (SMA) initially acted as support but has now risen above the price action to cap any gains. Slightly beneath it is the 61.8% Fibonacci retracement of the September 2024-January 2025 downleg at 1.2923 and together with the 1.2875 level, they are acting as a strong support base for the pair. Read more…<\/a><\/p>\nGBP\/USD turns sideways as 20-SMA blocks advances<\/h2>\n
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