GBP / USD forecasts: Pound Sterling is struggling to attract buyers
GBP / USD remains on the rear foot after the rebound on Thursday and is negotiated slightly below 1,3300 during the European session on Friday. The renewed force of the US dollar (USD) makes it difficult for the couple to hold their grounds while investors remain focused on the latest developments surrounding American-Chinese trade relations.
US President Donald Trump said late Thursday that a meeting between Chinese and American officials took place earlier during the day. During the hours of Asian negotiation, Bloomberg said that China was planning to suspend its 125% tariff on certain American imports, including medical equipment and ethane, and those responsible had discussions on waivering prices on plane leases. Learn more …
GBP / USD forecasts: Pound Sterling could push lower if the support of 1,3250 fails
The GBP / USD extended its drop in a second consecutive day on Wednesday and recorded its lowest daily closure in a week almost 1.3,250. The pair holds its field early Thursday and recovered around 1,3300.
The disappointing data of the purchasing managers (PMI) index of the United Kingdom, which showed a contraction in the commercial activity of the private sector in April, had its competitors of the Sterling book weaken on Wednesday during its competitors during European negotiation hours. Later in the day, the US dollar (USD) benefited from increased optimism to attenuate tensions between China and the United States, which makes the pair extend below. Learn more …
