Pound Sterling Price News and Forecast: GBP/USD is sensing resistance around 1.1520
|GBP/USD struggles around 1.1520 ahead of BOE Bailey and Fed Powell’s speech
The GBP/USD pair is facing barriers in crossing the immediate hurdle of 1.1520 in the early Tokyo session. The asset is displaying a volatility contraction phase after correcting from the round-level resistance of 1.1600 on Tuesday. The cable witnessed a steep fall after the market participants underpinned the greenback on robust US ISM Services PMI data.
GBP/USD outlook: Bears take a breather as market looks for signals about the action of new UK PM
Cable edged higher in Asian / European trading on Tuesday, boosted by cautious optimism that new UK Prime Minister Liz Truss will manage handle deepening crisis, though market will look for a much more evidence about the action the new government will take. The key problem that Truss face will be to cap energy costs, as soaring prices strongly hit UK households, by sharply rising cost of living.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.