Pound Sterling Price News and Forecast: GBP/USD keeps the red near weekly low
|GBP/USD Forecast: Sellers to take action if 1.1500 support fails
GBP/USD has failed to build on Wednesday's modest recovery gains and has gone into a consolidation phase above 1.1500 on Thursday. The near-term outlook points to a bearish bias and a four-hour close below 1.1500 could trigger another leg lower.
Following Tuesday's impressive rally, the US Dollar Index staged a downward correction on Wednesday and allowed GBP/USD to post daily gains. The UK's FTSE 100 Index is up more than 0.5% on Thursday, helping the British pound stay resilient. Nevertheless, the pair is likely to have a hard time gaining traction unless Wall Street's main indexes rise sharply after the opening bell. As of writing, the US stock index futures were trading virtually unchanged on the day. Read more...
GBP/USD keeps the red near weekly low, moves little post-US economic data
The GBP/USD pair extends its steady intraday descent through the early North American session and seems rather unaffected by US macro releases. The pair is currently trading around the 1.1470-1.1465 area and remains well within the striking distance of its lowest level since 1985 touched last week.
Following the previous day's modest downtick, the US dollar regains some positive traction on Thursday amid hawkish Fed expectations and turns out to be a key factor exerting pressure on the GBP/USD pair. That said, a generally positive tone around the equity markets keeps a lid on any meaningful gains for the safe-haven greenback. Read more...
GBP/USD remains on the defensive amid modest USD uptick, eyes US data for fresh impetus
The GBP/USD pair struggles to capitalize on the previous day's modest uptick and meets with a fresh supply on Thursday. Spot prices remain on the defensive through the first half of the European session, though manage to hold above the 1.1500 psychological mark.
The US dollar catches fresh bids amid expectations for a more aggressive policy tightening by the Fed and turns out to be a key factor exerting some downward pressure on the GBP/USD pair. The stronger US consumer inflation data released on Tuesday all but confirmed that the Fed will hike interest rates at a faster pace. In fact, the implied odds for a full 1% lift-off at the September FOMC meeting currently stand at 30%. Read more...
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.