Pound Sterling Price News and Forecast: GBP/USD could struggle to rebound [Video]

GBP/USD fails to build on the previous week’s strong gains and retreats to the 1.2450 area in the European morning on Monday. Although the technical outlook suggests that the bullish bias remains intact, the pair could have a hard time regaining its traction in the risk-averse market environment.

Safe-haven flows dominate the action in financial markets to start the week, helping the US Dollar (USD) hold its ground. The uncertainty surrounding US President Donald Trump’s trade policy after the Wall Street Journal reported that the Trump administration was not planning to negotiate with Canada or Mexico and start imposing 25% tariffs on February 1 causes investors to adopt a cautious stance. Read more…

The analysis focuses on the GBPUSD currency pair through Elliott Wave Theory on a daily chart, indicating a bullish trend with an impulsive wave pattern.The key observation lies in Navy Blue Wave 1, which is part of …