GBP/USD Weekly Forecast: Pound recovery at the mercy of BoE rate hike bets

The GBP/USD pair started the week under bearish pressure after failing to reclaim 1.3500 in the previous week. With the greenback continuing to gather strength against its major rivals on the back of rising US Treasury bond yields, the pair extended its slide below 1.3300 and touched its lowest level since December 2020. Ahead of the weekend, the intense flight to safety triggered a sharp drop in yields and allowed GBP/USD to erase a small portion of its weekly losses. Read more…

GBP/USD Forecast: Decreasing BoE rate hike bets limit pound’s upside

After dipping below 1.3300 earlier in the day, GBP/USD has managed to gain traction in the early European session and started to push higher toward mid-1.3300s on heavy selling pressure surrounding the dollar. However, the British pound could have a difficult time preserving its strength with investors reassessing the impact of the new coronavirus variant on the Bank of England’s (BoE) policy outlook. Read more…

Breaking: GBP/USD refreshes yearly low around 1.3300 on coronavirus, Brexit woes

GBP/USD extends the five-day downtrend towards refreshing 2021 low near 1.3300 heading into Friday’s London open. The cable’s latest weakness could be linked to the broad market fears over the coronavirus variant and the Brexit woes. However, bears seem to wait for the outcome of European Commission’s Brexit point person Maroš Šefčovič’s UK visit on Friday, not to forget the UK Health Security Agency (UKHSA) technical briefing to discuss the variant covid variant. Read more…

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