British Pound Sterling news & forecast: GBP/USD uptrend support in danger as BOE cut looks imminent
|Pound Sterling to remain positively configured on a medium-term basis [Video]
We retain our assessment that pound sterling will remain positively configured on a medium-term basis whilst the support band $1.2900/$1.3010 remains intact. This band has come under some scrutiny as the market has fallen away in recent sessions, but again the bulls seem happy to support and buy into weakness. Read more...
BOE's Saunders says probably appropriate to cut rates, GBP/USD struggles with 1.30
Michael Saunders of the Bank of England also supports cutting rates. The central banker who turned from backing tighter monetary policy but shifted to voting for rate cuts has reiterated his stance. Read more...
GBP/USD Forecast: Uptrend support in danger as BOE cut looks imminent
The lower band may break – both the Bank of England's inflation range and GBP/USD's uptrend support line.
UK Consumer Price Index slowed to 1.3% yearly in December 2019 – the weakest since November 2016, worse than 1.5% expected, and closer to the bank's lower limit of the 1-3% range.
Pound Sterling has reacted with a drop as the "Old Lady" may cut interest rates as soon as January 30. Read more...
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