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Pound Sterling Price News and Forecast: GBP/USD soars past 1.2900 as USD weakens on soft CPI

|ByFXStreet Team

GBP/USD Price Analysis: Soars past 1.2900 as USD weakens on soft CPI

The Pound Sterling extended its gains on Thursday following better-than-expected data from the UK as the economy expanded above estimates. US inflation missed the mark, coming softer a headwind for the Greenback. Therefore, the GBP/USD trades at 1.2927, up 0.62%. Read More...

Pound Sterling jumps above 1.2900 on soft US Inflation, strong UK GDP growth

The Pound Sterling (GBP) surges above the round-level resistance of 1.2900 against the US Dollar (USD) in Thursday’s American session. The GBP/USD pair strengthens as the United States (US) Consumer Price Index (CPI) for June showed that price pressures softened more than expected in June. Annual headline and core CPI, which strips off volatile food and energy prices, decelerated to 3% and 3.3%, respectively. Monthly headline inflation deflated by 0.1%, while economists forecasted growth at a similar pace. The core CPI grew at a slower pace of 0.1% from the estimates and the prior release of 0.2%. Read More...

GBP/USD Price Analysis: Holds position above 1.2850 nearing a pullback resistance

GBP/USD continues to advance for the second consecutive session, trading around 1.2860 during Asian hours on Thursday. The analysis of the daily chart shows that the pair is moving upward within an ascending channel, which indicates a bullish bias in the pair's price action. Read More...
 

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