GBP/USD outlook: Bears resume after a brief consolidation
Cable fell further at the beginning of the week, after larger bears paused for consolidation on Friday. Current bets show 60% chance of BoE rate cut at Thursday’s policy meeting, which continues to weigh on sterling.
Technical picture on daily chart weakened further after Monday’s acceleration broke below 1.2830 pivot (50% retracement of 1.2615/1.3044 / daily Kijun-sen) with daily close below here to confirm fresh negative signal. Read more...
GBP/USD Forecast: Bearish pressure builds up as focus shifts to Fed and BoE meetings
After posting losses for the second consecutive week, GBP/USD stays under pressure early Monday and trades in negative territory below 1.2850. The pair's near-term technical outlook points to a buildup of bearish momentum.
The Federal Reserve (Fed) and the Bank of England (BoE) will announce monetary policy decisions later in the week. Growing expectations for a BoE rate cut this Thursday make it difficult for Pound Sterling to find demand. According to Reuters, UK interest rate futures point to a 58% chance of a 25 basis points (bps) BoE rate cut on August 1, up from nearly 50% on Friday. Read more...
GBP/USD Weekly Forecast: Fed-BoE policy divergence could trigger next directional move in Pound Sterling
The Pound Sterling (GBP) stretched its corrective downside from yearly highs against the US Dollar (USD), sending GBP/USD back under 1.2900 – the lowest level in over a week.
GBP/USD maintained its corrective downside mode during the past week, despite a broadly rangebound US Dollar. Divergent monetary policy outlooks between the US Federal Reserve (Fed) and the Bank of England (BoE) also failed to offer the much-needed lift to the Pound Sterling, as the sentiment around the higher-yielding currency was dented by resurfacing concerns over China’s economic slowdown. Read more...
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