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Pound Sterling Price News and Forecast: GBP/USD struggles to remain above 1.2800, falls

|ByFXStreet Team

GBP/USD Price Analysis: Struggles to remain above 1.2800, falls

The GBP/USD experienced a retreat early in the North American session, down by 0.23%. This was a continuation of a trend, as the major trades below 1.2800 at around 1.2769 were unable to achieve a daily close above 1.2800 for the ninth consecutive trading day. Read More...

Pound Sterling finds cushion below 1.2800 after soft US PPI report

The Pound Sterling (GBP) finds support below the crucial support of 1.2800 against the US Dollar (USD) in Thursday’s American session. The GBP/USD pair finds cushion after the United States (US) Bureau of Labor Statistics (BLS) reported a cooler US Producer Price Index (PPI) report for May, which has prompted expectations of the Federal Reserve (Fed) returning to policy normalization from the September meeting. Market speculation for Fed rate cuts grew sharply on Wednesday too after the release of the cooler-than-expected Consumer Price Index (CPI) report for May. Read More...

GBP/USD Price Analysis: Remains depressed below 1.2800, downside potential seems limited

The GBP/USD pair edges lower during the Asian session on Thursday and retreats further from over a three-month top, around the 1.2860 region touched the previous day, in reaction to softer US consumer inflation figures. Spot prices, for now, seem to have snapped a three-day winning streak and currently trade around the 1.2785 area, down 0.10% for the day. Read More...
 

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