Pound Sterling Price News and Forecast: GBP/USD near-term bullish bias stays intact above 1.3760
|GBP/USD Price Analysis: Flirts with session lows, around 1.3800 amid a modest USD strength
The GBP/USD pair witnessed some selling on Thursday and dropped to sub-1.3800 levels during the first half of the trading action, though lacked any follow-through.
The risk-off impulse in the markets – amid fresh worries about a credit crunch in China's real estate sector – assisted the US dollar to stage a modest bounce from three-week lows. This, in turn, was seen as a key factor that exerted some downward pressure on the GBP/USD pair. Read more...
GBP/USD Forecast: Near-term bullish bias stays intact above 1.3760
The British pound has managed to shake off the selling pressure on the soft inflation data on Wednesday and closed at its highest level in more than a month at 1.3825 before going into a consolidation phase on Thursday.
Although the probability of a Bank of England (BoE) rate hike in November fell after the annual Core Consumer Price Index in the UK edged lower to 2.9% in September from 3.1%, GBP/USD didn't have a difficult time regaining traction. Read more...
GBP/USD to struggle to make a push towards 1.40 – Scotiabank
The GBP/USD pair is struggling to hold on to the 1.38 handle. Economists at Scotiabank expect the cable to end the year around this level despite Bank of England's rate hike expectations.
“The GBP remains well supported by hawkish BoE expectations that should prevent sustained declines under 1.36 but we think there is likely more downside than upside risk to market expectations for BoE tightening as already over 100bps in hikes are priced in between now and end-2022.” Read more...
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