GBP/USD shows signs of bullish reversal as sterling rebounds above key moving averages. The pair is holding above both its 20-day and 50-day moving averages, with technical indicators pointing to strengthening upside momentum in the 1.3530 support zone. Intermarket dynamics are favoring further sterling strength, as the UK-US implied interest rate spread has steepened significantly, suggesting the Bank of England may maintain a more hawkish stance than the Federal Reserve. Traders are closely monitoring upcoming US labour market data and University of Michigan consumer sentiment figures, which could drive near-term volatility. Despite renewed US-Iran tensions, GBP/USD remains supported by these fundamental and technical factors, positioning the pair for potential further gains in the near term.
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