Pound Sterling is currently consolidating, hovering around the 1.2631 mark
|GBP/USD outlook: Cable moves within extended range ahead of key US data
Cable remains in extended sideways mode, with a narrow range on holiday-thinned markets on Good Friday.
Near-term action is ranging between 200DMA (1.2588) and thin daily cloud (spanned between 1.2634 and 1.2663), with predominantly bearish daily studies keeping the downside at risk, although the pair is still looking for stronger direction signal. Read more...
GBP consolidates amid concerns over economic growth and wage trends
The GBP/USD pair is currently consolidating, hovering around the 1.2631 mark. This consolidation phase follows recent reports highlighting a slowdown in the expansion plans of British businesses for workforce and wage growth, raising concerns about future economic dynamics and inflationary pressures.
A key report from the Lloyds Bank Business Barometer indicates a noticeable dip in the hiring outlook among companies. The differential between firms looking to hire and those planning cuts fell to 27% from a peak of 36% in February. This level is only slightly above the long-term average of 22%. Moreover, there has also been a marginal decline in the proportion of businesses anticipating wage increases in the next year. Read more...
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