GBP/USD Forecast: Pound Sterling struggles to extend recovery as mood sours
GBP/USD stays under modest bearish pressure and declines toward 1.3000 to start the new week, after posting daily gains on Thursday and Friday. A daily close below 1.2960 could open the door for another leg lower.
Pound Sterling held its ground in the second half of the week as it managed to capture capital outflows out of the Euro. Additionally, the positive shift seen in risk mood helped GBP/USD edge higher heading into the weekend. Read more...
GBP/USD Price Forecast: Bears have the upper hand while below 1.3135 confluence
The GBP/USD pair struggles to capitalize on a two-day-old recovery move from the 1.2975 area, or a nearly two-month trough touched last Thursday and kicks off the new week on a softer note. Spot prices currently trade just below mid-1.3000s and seem vulnerable to prolonging the recent pullback from the 1.3435 region, or the highest level since March 2022.
The US Dollar (USD) attracts some dip-buyers at the start of a new week and reverses a part of Friday's losses amid expectations that the Federal Reserve (Fed) will proceed with modest rate cuts over the next year. The British Pound (GBP), on the other hand, is undermined by rising bets for interest rate cuts by the Bank of England (BoE) in November and December. This, in turn, adds credence to the near-term negative outlook for the GBP/USD pair. Read more...
GBP/USD Weekly Forecast: Pound Sterling struggles as low inflation propels BoE rate cut bets
The Pound Sterling (GBP) fell for the third consecutive week against the US Dollar (USD), as the GBP/USD pair tested levels below the 1.3000 round level for the first time since mid-August before staging a late recovery.
Markets turned more dovish on the Bank of England’s (BoE) monetary policy outlook while sealing in a smaller interest-rate cut by the US Federal Reserve (Fed), thus strengthening the US Dollar’s advance at the expense of the Pound Sterling. Read more...
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