GBP/USD: Move beyond 50-day SMA needed to support prospects for additional gains

European Session HOT STORY GBP/USD: Move beyond 50-day SMA needed to support prospects for additional gains   The GBP/USD pair witnessed an aggressive short-covering move on Monday and snapped a three-day losing streak to a technically significant 200-day Simple Moving Average (SMA). The pair rallied 140 pips intraday and the momentum was supported by a combination of factors. Hawkish Fed expectations, recession fears revive the USD demand and cap any meaningful upside. MORE STORIES US CB Consumer Confidence Preview: Focus on possible recession-related hints   Solana Price Prediction: Signs of a steeper correction underway     LIVE US Pre-Market Open Expert:  Ed Ponsi, CTA Start:  TUE FEB 28, 13:00 GMT  TRADER'S RESOURCES Have a question about markets? TOP analysts will answer you. Forex, Stocks, Cryptos, Commodities! Join our VIP traders community and tap into the analysts to resolve any questions related to your trades, market moves, anything! Benefit from direct access to all insights and signals. And the best of all!: Meet like-minded people that speak the same trading language as you. Don't trade alone! BUY NOW FXSTREET ANYWHERE YOU ARE Check our economic calendar, Forex charts and news on your mobile Get new posts notifications and one-click-away economic calendar.   Manage your subscriptions  ·  Unsubscribe from FXStreet newsletters   FXStreet Newsletter does not constitute a solicitation for the purpose of buying or selling in the foreign exchange market. Although the information contained in FXStreet Newsletter comes from trusted sources, FXStreet is not responsible for guaranteeing the accuracy, timeliness, completeness or fitness of such sources. © 2023 "FXStreet. The Forex Market" All Rights Reserved. FOREXSTREET, S.L. - Portaferrissa 7, 1r 2a Barcelona 08002 Catalonia - Spain. You are receiving this email because you have specifically consented to it by checking the corresponding box when registering on our website. In FXSTREET we do not like receiving spam, so if you want, you can cancel your subscription or send us an email to privacy@fxstreet.com This message has been sent to you by FOREXSTREET S.L., a company registered in Barcelona, ​​in Volume 33351, Folio 135, Sheet B230633, with Tax Identification Number B62498233.