GBP/USD bears move in on 1.38 and eye 1.3780s daily target
UK growth meeting an apex has pressured sterling as markets weigh central bank divergences. GBP/USD is testing the territory below 1.3800 with eyes on 1.3780. In recent trade, GBP/USD pierced the psychological 1.38 figure and scored the lowest level since the end of July at 1.3794. The US dollar perked up on Thursday following upstream US inflation data in the Producer Price Index which posted their largest annual increase in more than a decade in the 12 months through July. Read more...
GBP/USD Forecast: Bears maintain the pressure, lower lows at sight
The GBP/USD pair edged lower on Thursday, falling to 1.3794, its lowest for the month. The greenback strengthened in the American afternoon, following upbeat employment data coupled with a fresh sign of heating inflation, as the PPI surpassed expectations in July. Read more...
GBP/USD Forecast: Mixed UK data leave investors clueless
The GBP/USD pair trades around 1.3860, little affected by mixed UK data, as speculative interest keeps focusing on US developments. The kingdom published the preliminary estimate of its Q2 Gross Domestic Product, which printed as expected 4.8%, improving from -1.6% in the previous quarter. Industrial Production was up 8.3% YoY in June while Manufacturing Production was up 13.9% in the same period. Read more...
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