GBP/USD eases from critical daily resistance near 1.3770 amid firmer USD
GBP/USD has faced rejection once again near the 1.3770 region, with the bears now fighting back control, dragging the rates lower towards 1.3700.
In doing so, the cable turns into the red zone for the first time in four trading sessions, retreating from four-week highs reached last Friday. Read more...
GBP/USD outlook: Cable is consolidating under new one-month high
Cable is consolidating under new one-month high (1.3773) in early Monday, following last week’s 0.55% advance and weekly close above double-Fibo barriers at 1.3721 (61.8% of 1.3912/1.3411) and 1.3731 (61.8% of 1.4249/1.3411) that generated bullish signal.
The sentiment remains strong as hopes for BoE rate hike as early as November were boosted by hawkish comments from Governor Bailey, who said that the central bank is gearing up for the first rate hike after pandemic on mounting inflation risk. Read more...
GBP/USD has room to rise if markets price in a BoE rate hike in November
GBP/USD has been boosted by Brexit calm and clearer Fed path. The Bank of England's (BoE) next decision will be influenced by UK inflation. Elevated numbers are key to more sterling gains, Yohay Elam, an Analyst at FXStreet, reports.
“Market observers seem resigned to accept that the Brexit topic will linger for a long time – but there is a difference between making the headlines and being a side story. If quiet negotiations replace pompous speeches, sterling could shine. On the other hand, ongoing clashes could pressure the pound.” Read more...
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