The GBP/USD pair rose to 1.3637, after the beginning of the American session reaching the highest level in a week. Later the pair pulled back toward 1.3600 but still was holding onto gains, for the third consecutive day and about to post the highest close in a month. The pound remains strong and is also up versus the euro as EUR/GBP trades under 0.8350, at the lowest in two weeks after higher-than-expected UK inflation data and also amid concerns regarding the Ukrainian border. Read more…

GBP/USD Forecast: Souring market mood could drag pound below 1.3560

GBP/USD has closed in the positive territory on Wednesday but lost its bullish momentum after testing 1.3600. Geopolitical headlines continue to drive the market action and the British pound faces a two-way risk amid the uncertainty surrounding the Russia-Ukraine conflict. During the Asian trading hours, reports claiming that Ukraine has shelled separatists’ positions in east Ukraine caused safe-haven flows to dominate the markets. Ukraine quickly denied these claims and the Ukrainian military recently reported that Russian occupying forces fired on a village in the Luhansk region. Read more…

GBP/USD Analysis: Upside remains capped amid Russia-Ukraine stand-off

The GBP/USD pair built on the previous day’s late rebound from the 1.3485 region, or a two-week low and gained some follow-through traction on Wednesday. The momentum pushed the pair to a fresh weekly high and was sponsored by a combination of factors. Russia announced that it is moving troops away from the Ukrainian border after the completion of military exercises. This helped ease fears about a full-blown conflict between Russia and the West and continued undermining the safe-haven US dollar. On the other hand, the British pound drew support from hotter-than-expected UK consumer inflation figures, which boosted bets for additional interest rate hikes by the Bank of England. Read more…

This article was originally published by Fxstreet.com.Read the original article here.

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