Pound Sterling Price News and Forecast: GBP/USD attracts fresh sellers on Friday
|GBP/USD Price Analysis: Remains vulnerable near monthly low, US PCE data awaited
The GBP/USD pair extends the overnight late pullback from the 1.2670 region and trades with a mild negative bias during the Asian session on Friday. Spot prices currently hover around the 1.2635-1.2630 area and remain well within the striking distance of the lowest level since mid-May touched on Thursday.
The British Pound (GBP) continues to be undermined by rising bets for a rate cut by the Bank of England (BoE) in August. Apart from this, some repositioning trade ahead of the crucial US inflation data lifts the US Dollar (USD) to a fresh two-month high, which, in turn, is seen as another factor exerting some downward pressure on the GBP/USD pair. That said, the uncertainty about the Federal Reserve's (Fed) rate-cut path keeps a lid on any further gains for the buck and helps limit the downside for the currency pair. Read more...
GBP/USD pinned to key technical levels ahead of Friday’s US inflation update
GBP/USD waffled on Thursday, churning in empty yet familiar chart paper between long-term moving averages, with price action sandwiched between the 1.2700 and 1.2600 handles. US data came in mixed, leaving market sentiment to grind into the middle as investors await Friday’s key US inflation print.
Before key US price growth data, the upcoming US Presidential Election is expected in the early Friday market session. Investors will be keeping one ear out for any hints regarding potential policy plans from all of the US candidates. Read more...
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