Pound Sterling extends recovery above 1.2500, but bears loom around 200-DMA

|ByFXStreet Team

GBP/USD Price Analysis: Extends recovery above 1.2500, but bears loom around 200-DMA

The Pound Sterling resumed its advance against the US Dollar, climbing more than 0.40% and trading at 1.2518. During the day, the GBP/USD bounced off daily lows of 1.2450 following the release of mixed economic data from the United States. The US economy in Q1 2024 grew below estimates, which would warrant easing monetary policy. But prices edging up spurred investors' reaction to priced-out rate cuts in 2024. Read More...

Pound Sterling steadies while US Dollar rises on persistent price pressures

The Pound Sterling (GBP) aims to hold strength near the psychological resistance of 1.2500 against the US Dollar (USD) in Thursday’s early American session. The GBP/USD struggles as the US Dollar rebounds sharply after the United States Q1 Gross Domestic Product (GDP) report showed that inflation accelerated sharply. The preliminary GDP Price Index rose sharply by 3.1% from the prior reading of 1.7%. This has prompted expectations that the Federal Reserve (Fed) will keep interest rates restrictive for a longer period. Read More...

GBP/USD Price Analysis: Acceptance above 23.6% Fibo. favors bulls ahead of US Q1 GDP

The GBP/USD pair consolidates its strong recovery gains registered over the past two days, from the 1.2300 mark or the YTD low set earlier this week and oscillates in a range during the Asian session on Thursday. Spot prices currently trade near the 1.2465 region, unchanged for the day as traders await more cues about the Federal Reserve's (Fed) rate-cut path before placing fresh directional bets. Read More...
 

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