Pound Sterling Price News and Forecast: GBP/USD could target 1.2840 next

The US Dollar (USD) benefited from upbeat macroeconomic data releases in the previous week but GBP/USD managed to hold its ground as the strong inflation data from the UK revived expectations about a delay in the Bank of England\'s (BoE) policy pivot. Read more…GBP/USD stays in a consolidation phase near 1.2750 in the European session on Monday after closing the previous week marginally higher . The pair\'s near-term technical picture suggests that the bullish bias remains intact but 1.2760 could be a tough resistance to crack.The US Dollar (USD) came under modest bearish pressure during the American trading hours on Monday and allowed GBP/USD to gain traction. Early Tuesday, the positive shift seen in risk mood makes it difficult for the USD to stay resilient against its peers and helps the pair keep its footing. Reflecting the upbeat market mood, US stock index futures were last seen rising between 0.1% and 0.5%. Read more…GBP/USD managed to build on previous Friday\'s gains and closed in positive territory on Monday . The pair continued to stretch higher and reached its strongest level since March 21 above 1.2780 early Tuesday. The technical outlook suggests that GBP/USD could extend its uptrend as long as 1.2760 holds as support.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research

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