GBP/USD struggling to stage a rebound [Video] GBPUSD has been forming a structure of lower highs and lower lows since its 16-month peak of 1.3141. Mea
GBP/USDstruggling to stage a rebound GBPUSD has been forming a structure of lower highs and lower lows since its 16-month peak of 1.3141. Meanwhile, in the near term, both the RSI and the stochastic oscillator are tilted to the bearish side, shattering the bulls' hopes for a sustained rebound. Read more... GBP/USD Forecast: Sellers await a drop below 1.2130 GBP/USD reversed its direction after rising above 1.2200 on Monday and retreated to the 1.2150 area early Tuesday.
In the absence of high-impact data releases, the improving risk mood made it difficult for the US Dollar to find demand in the American session on Monday. Meanwhile,Philadelphia Federal Reserve President Patrick Harker reiterated his dovish message by saying that the US central bank was "very likely done" with interest rate hikes, putting additional weight on the USD's shoulders. Read more...
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