GBP/USD Price Analysis: GBP/USD profit taking in play as US dollar stalls
GBP/USD bears moved in on the weekly W-formation’s target. The US dollar is now stalling which could give some support to cable. The price action and flight path followed suit into the weekly support target area. At this juncture, much will now depend on geopolitics, global equities and the US dollar that will benefit from safe-haven flows or any uber hawkish surprise at the Federal Reserve meeting.
GBP/USD Forecast: Pound looks vulnerable as it tests key support
GBP/USD has snapped a four-week winning streak and lost nearly 1% last week as the British pound continued to lose interest following Friday’s disappointing retail sales data. The pair stays under bearish pressure in the early European session on Monday and closes in on the key 1.3530 support.
This article was originally published by Fxstreet.com.Read the original article here.
