British Pound (GBP) Forecast: Cable On the Back Foot Going Into Easter
GBP/USD looks to enter the Easter weekend in the red after a strong comeback on Wednesday. The pound is in for a quiet week next week with focus on the US.
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GBP/USD looks to enter the Easter weekend in the red after a strong comeback on Wednesday. The pound is in for a quiet week next week with focus on the US.
GBP/USD price action shows traders flirting with the significant 1.30 level for a second time in 2022, while focus shifts to key US and UK economic data tomorrow.
UK GDP numbers helped maintain yesterdays sterling rally ahead of US Core PCE data, while GBP/USD now faces key resistance levels.
GBP/USD remains gripped by the recent downtrend but bulls remain hopeful that this week’s rally can propel the pair through stubborn resistance.
The pound has been rallying on the back of BoE rate hike expectations with a weaker USD supporting cable upside. Attention now shifts to BoE speeches next week.