Pound Sterling bears in charge as ‘shooting star’ looms

The Pound Sterling holds to gains versus the US Dollar yet retraced from three-week highs reached at 1.2634 following a softer than expected US Nonfarm Payrolls report. However, buyers lacked the strength to keep prices above 1.2600, opening the door for a test of the 200-day moving average (DMA). The GBP/USD trades at 1.2541, down by 0.06%. Read More…

The Pound Sterling (GBP) reverses gains after rallying to the round-level resistance of 1.2600 against the US Dollar (USD) in Friday’s early New York session. The GBP/USD pair falls as the US Dollar recovers losses recorded after the release of the United States Nonfarm Payrolls (NFP) report for April, which showed that labor demand was weak and wage growth slowed more than expected. Read More…

GBP/USD extends its gains for the third successive session on Friday, trading around 1.2550 during the Asian session. The pair consolidates within the descending channel on a daily chart, with the 14-day Relative Strength Index (RSI) moving above the 50-level. indicating the weakening of a bearish bias. Read More…