Pound Sterling Price News and Forecast: GBP range-bound trading expected

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Pound Sterling faces pressure in countdown to BoE decision

The Pound Sterling (GBP) trades lower against its major currency peers on Tuesday as traders shift their focus to the Bank of England’s (BoE) monetary policy announcement on Thursday.

The BoE is expected to leave interest rates unchanged at 3.75%, with a 7-2 majority, suggesting that the decision will be almost unanimous this time after very divided outcomes in the previous two meetings. Read more...

GBP/USD: Range-bound trading expected – UOB Group

The GBP/USD pair is anticipated to trade within a range between 1.3640 and 1.3710, following a recent decline. The outlook suggests that while downward momentum has eased, GBP is unlikely to decline further, note Quek Ser Leang, Senior Technical Strategist and Peter Chia, Senior FX Strategist at UOB. Read more...

GBPUSD: Modest gains as BoE meeting approaches – Scotiabank

The GBP is showing modest gains against the USD, outperforming G10 peers as markets prepare for the upcoming BoE meeting. Recent UK data has reduced expectations for easing, with a 25bps cut now priced in by June, note Shaun Osborne and Eric Theoret from Scotiabank. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD holds rebound near 0.6900 on US-China trade optimism

AUD/USD holds the rebound near 0.6900 in the Asian session on Monday. Mixed China's inflation data for October fails to provide any inspiration to the Chinese proxy, the Australian Dollar, but China's extension of the suspension of 24% tariffs on US goods and reduced US-Iran tensions help the Aussie pair cling to recovery gains.

USD/JPY retreat in sync with USD, appraches 158.00

USD/JPY is back in the red at the start of the week on Monday, eyeing the broad US Dollar retreat amid easing US-Iran tensions. Traders also resorting to profit-taking following the blockbuster US Nonfarm Payrolls data-led rally. US CPI report is next in focus.

Gold rises amid US-Iran peace deal hopes, softer US Dollar

Gold price recovers some lost ground above $4,020 during the early European trading hours on Monday. The prospects of diplomacy in the US-Iran conflict and weaker US Dollar (USD) boost the precious metal.

Bitcoin faces pressure as weekly ETF outflows hit $1.28 billion

Bitcoin remains under pressure on Monday, trading below the 50-week Simple Moving Average at $75,222 after extending its losing streak to five consecutive weeks. Bearish sentiment strengthened as $1.28 billion in net outflows from spot BTC Exchange-Traded Funds last week marked the largest weekly withdrawal since late June.

Economics week ahead

This week, attention turns to Tuesday’s CPI report, with no year-over-year readings available because of last October’s shutdown-related data gap. We expect headline and core inflation to clock 0.28% and 0.21% month-over-month, respectively. Softer core inflation would offer some relief after September’s upside surprise but should still leave our call for a December rate hike intact.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.