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Pound Sterling Price News and Forecast: GBP/USD ignoring discouraging UK news – FXStreet

GBP/USD Price Analysis: Bulls need support to hold bearish pressures

GBP/USD is denying the bulls a clean break to the upside. Bulls remain in play while above the critical support. In an update to yesterdays analysis, GBP/USD Price Analysis: Bulls could emerge again on test of 1.3080, the price action of cable has been bearish within a bullish setup, although the support structure holds and so long as it does, the bias remains with the upside.

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GBP/USD Forecast: Ignoring discouraging UK news

The GBP/USD pair advanced to 1.3079 a weekly high, trading a handful of pips below the level as the American session came to an end. The dollar came under selling pressure during US trading hours, after a consumer confidence indicator came in worse than anticipated, putting Wall Street under pressure and hence, the greenback.  US indexes, however, managed to move away from daily lows, ending the day mixed.

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