Pound Sterling Price News and Forecast: GBP/USD attack on 1.40 coming?

Trading GBP/USD ahead of US ADP employment change news

The Great Britain Pound (GBP) inched higher against the U.S. Dollar (USD) on Wednesday (August 04, 2021), increasing the price of the GBPUSD to more than 1.3900, ahead of the release of U.S. ADP Employment Change news

As of this writing, the GBPUSD strengthens around 1.3927. If the price keeps increasing, the pair might face some resistance near the listed price levels. On the downside, the pair might face some support near the listed price levels. Read more…

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GBP/USD Forecast: Attack on 1.40 coming? Upbeat UK data supports gains, US figures eyed

One step down, now two steps up? GBP/USD has been making its way higher after retreating from the peak earlier on, and this upswing has a solid base. 

UK COVID-19 cases have extended their decline, and seem to be on the verge of breaking below the 20,000 infections/day barrier. They stood at 50,000 several weeks ago. Despite the increase in deaths from the deadly disease, it seems that Britain’s reopening had little effect on spreading the virus. Read more…

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GBP/USD holds steady near weekly tops, just below mid-1.3900s

The GBP/USD pair maintained its bid tone through the first half of the European session and was last seen trading near weekly tops, just below mid-1.3900s.

The pair built on the previous day’s rebound from the 1.3875 support area and gained some follow-through traction for the second consecutive session on Wednesday. The British pound remained well supported by the optimism over the declining trend of new COVID-19 cases in the UK. Bulls further took cues from an upward revision of the UK Services PMI for July. Read more…

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