Pound Sterling Price News and Forecast: GBP/USD taking advantage of a softer US dollar and slight risk-on tones
by FXStreet TeamGBP/USD: All ears to the ground for Brexit themes ahead of June 30
GBP/USD is currently trading at 1.2192 and slightly higher at the start of the week. Investors remain bullish on the relaxation of lockdown measures which has given equities a lift and dented the US dollar.
GBP/USD subsequently climbed from a low of 1.2163 to a high of 1.2203. The US dollar initially climbed at the start of the Asian session but came under pressure as the risk-on theme build-up. European equities ended higher with the E-minis up 1.0%.
GBP/USD analysis: Consolidated at 1.2180
At the end of last week, the GBP/USD exchange rate consolidated at 1.2180. During Monday morning, the rate maintained its consolidation.
Note that the currency pair is pressured by the 55-, 100– and 200-hour SMAs in the 1.2200 area. Thus, some downside potential could prevail in the market. It is likely that the pair could target the 1.2100 level.
