Pound Sterling Price News and Forecast: GBP/USD seen on a defensive mode below 1.3050

GBP/USD pares earlier gains and returns below 1.2950

Sterling’s rebound from 1.2910 area has been limited below session highs at 1.2980, and the pair retreated again to the lower rage of 1.2900. The pound remains practically unchanged on the day, with the markets awaiting a breakthrough in the Brexit negotiations between the UK and the EU.

Cable is stuck in a sideways range

Elevated levels of intraday volatility are still a feature of Cable trading right now. Once more we saw a rally into 1.3000 failing to hold yesterday and Cable dropping back -75 pips into the close. It is indicative of the constant swing back and forth not only of USD expectations but also on GBP with uncertainty over Brexit trade deal developments. Cable is subsequently stuck in a sideways range. Support has developed at 1.2845 but the rallies have faltered between 1.3000/1.3080 repeatedly over the past six weeks.

AUD/USD bounces up from 0.7020 lows and returns to 0.7065 area

The Australian dollar has shrugged off its bearish tone triggered by the minutes of the latest RBA's monetary policy meeting and bounced up from multi

अधिक पढ़ें Previous

Oct 20, 2020

EUR/SEK expected to drift lower on the medium-term – Rabobank

The positive EUR/SEK trend witnessed over the last eight years might have come to an end, according to the FX analysis team at Rabobank, that sees the

अधिक पढ़ें Next