Pound Sterling Price News and Forecast: GBP/USD prints fresh highs on BoE expectations
|GBP/USD prints fresh highs on BoE expectations
At 1.3490, GBP/USD is trading near to the highs of the day that came in just shy of 1.3495. The pair has moved from a low of 1.3396 and climbed to a one-week high after data showed UK inflation surged to a 10-year high last month. The pound is firmer across the board due to the expectations of an interest rate hike as early as next month following a week, so far, of better than expected data. On Tuesday, for instance, UK data showed Britain's job market withstood the end of the government's furlough scheme. Read more...
GBP/USD Forecast: Bulls eye Brexit headlines after hot UK inflation data
GBP/USD has edged higher in the early European session on Wednesday with the latest data from the UK revealing that inflation was stronger than expected in October. The pair seems to be struggling to push higher, however, suggesting that investors are focused on Brexit headlines rather than the market pricing of a strong probability of a Bank of England (BoE) rate hike in December. Read more...
GBP/USD analysis: Encounters SM
The GBP/USD currency exchange rate reached and pierced the resistance of the 200-hour simple moving average at mid-day on Wednesday. Previously, during the morning hours of the day, the rate declined and shortly traded below the support of the 100-hour SMA. Meanwhile, analysts spotted a channel-up pattern on the rate's hourly candle chart. Read more...
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