Pound-Dollar Charts Tip Struggle Above 1.38 as Enthusiasm Fades Among Analysts

The Pound could extend a recent rally against the U.S. Dollar if the stances held by a number of institutional strategists we follow prove correct, although others still prefer to back the Dollar.

The Pound-to-Dollar exchange rate's September recovery would need to break through resistance located at 1.3960 for a run towards 1.41 to transpire, according to a new analysis of the pair.

Positioning on the Dollar has turned 'long' again and this might have severed the link between bouts of equity market weakness and Dollar strength. 

USD carries hat-trick of losses into payrolls report but may look to steady if job rebound continues apace.

The Pound-to-Dollar exchange rate entered the new week above 1.38 and with possible scope for a further attempted recovery.

The Pound-to-Dollar exchange rate advanced to 1.3785 in the wake of underwhelming U.S. data which eases pressure on the U.S. Federal Reserve to announce an imminent withdrawal of monetary stimulus.