GBP/USD moves higher as the dollar moves to the lows of the day. Fed’s Powell testifies but US dollar fails to move higher on his ”transitory” comments. GBP/USD is currently trading at 1.3941 and turning bid on the session as the markets sell US dollars sending the greenback to the lows of the day so far. At the time of writing, GBP/USD has traded to a high of 1.3947 from a low of 1.3860. Read more…
The GBP/USD pair recovered from an intraday low of 1.3860 and hit a fresh weekly high of 1.3963, ending the American session a couple of pips below this last. The pound was supported by comments from the UK Health Minister Matt Hancock, who said covid-related data looks encouraging and suggests lockdown can fully end on July 19 as planned because a recent rise in cases is not resulting in deaths. Read more…
The GBP/USD pair struggled to capitalize on the previous day’s solid rebound of nearly 150 pips from two-month lows and faced rejection near 100-day SMA on Tuesday. The momentum dragged the pair back below the 1.3900 mark during the early European session and was sponsored by a combination of factors. The UK government’s decision to delay the final stage of easing lockdown measures – amid a surge in COVID-19 cases infected by the so-called Delta variant – dampen prospects for a rapid UK economic recovery from the pandemic. Read more…
