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Political uncertainty in the UK to keep sterling under pressure

3 May 2021

GBP/USD has been attempting recovery as US yields ease. Is this rise a cable selling opportunity? Boris' problems and US economic strength may trigger more falls, according to FXStreet’s Analyst Yohay Elam.

Political uncertainty in the UK and a sizzling hot US economy may turn gbp/usd back down

The vaccine and stimulus recovery is causing the economy to heat up, but perhaps even to push inflation higher? While Federal Reserve Chair Jerome Powell made his best efforts to say price rises are temporary, his colleague Robert Kaplan wants the bank to signal less bond-buying in the near future. That would boost the dollar.

Prime Minister Boris Johnson remains under pressure after reportedly asking Conservative Party donors to fund the redecoration of his Downing Street residence. That may hurt the government's ability to manage the exit from the crisis.

The most consequential vote is in Scotland, where the Scottish National Party aims to achieve an absolute majority in Holyrood, allowing for a fresh push for independence. A fresh row within the UK would add to unresolved issues around Brexit. Support is at 1.3820, a swing low from late April. It is followed by 1.38 and then by 1.3750. Resistance awaits at 1.3860, a cushion from last week, followed by 1.3930 and 1.3980.



The Pound managed to recover

After a couple of days of falling, GBPUSD corrected based on the strong statistics. The British Pound rose against the USD for the first time over the last three trading sessions...

16 Jun 2021

The Pound is falling

Despite the weak greenback, GBPUSD is retreating. The British Pound is falling against the USD on Thursday afternoon. The current quote for the instrument...

10 Jun 2021

GBPUSD lingers around 1.41 as positive forces dry up

GBPUSD is tiptoeing across the 1.4095 level, which happens to be the 150.0% Fibonacci extension of the down leg from 1.3200 until 1.1410, after multiple...

8 Jun 2021

GBPUSD favors bearish scenario after failure to conquer tough resistance

GBPUSD bulls abandoned the difficult battle around February's ceiling of 1.4235, letting the price tumble below the 1.4100 level. Having breached the 23.6% Fibonacci...

4 Jun 2021

GBP/USD to suffer further weakness on a break below 1.4091

GBP/USD has again rejected the 1.4238/46 highs with a bearish "reversal day" having been established, raising the prospect of further weakness in the sideways...

2 Jun 2021

GBP/USD bounces off short-term support line to justify bullish options market

GBP/USD picks up bids to 1.4152, up 0.03% intraday, ahead of Monday's London open. In doing so, the cable pair takes clues from the upbeat risk reversals...

24 May 2021

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