Pound Sterling Price News and Forecast: GBP/USD holds above 1.3600 ahead of US Inflation Data
|GBP/USD hesitates above 1.3600 with markets awaiting US inflation data
The Pound (GBP) extends losses against the US Dollar (USD) for the fourth consecutive day, trading around 1.3600 on Friday after pulling back from weekly highs above 1.3700. The risk-averse market mood is underpinning USD’s recovery, with trading volumes subdued ahead of the release of US Consumer Price Index figures.
Headline inflation is expected to have grown at a steady 0.3% pace in January, with annual inflation easing to 2.5% from 2.7% in December. The core CPI, which strips out the influence of seasonal food and energy prices, is also seen declining year-on-year to 2.5% from 2.6% in December. Read more...
GBP/USD Price Forecast: Tests 1.3600 support near lower ascending channel boundary
GBP/USD remains subdued for the fourth successive day, trading around 1.3600 during the European hours on Friday. The technical analysis of the daily chart indicates an ongoing bullish bias, as the pair trades within an ascending channel pattern.
The 14-day Relative Strength Index (RSI), a momentum indicator, at 51 is neutral after cooling from overbought territory. RSI around 50 underscores a range-bound phase; a push above 60 would bolster upside continuation. Read more...
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