Pound Sterling Price News and Forecast: GBP/USD remains fragile as key resistance remains intact

FXStreet Team FXStreet

Pound Sterling rises as traders expect BoE to follow gradual policy-easing path

The Pound Sterling (GBP) bounces back strongly at the start of the week and outperforms its major peers after facing a sharp sell-off on Friday. The British currency declined on Friday after the United Kingdom (UK) Retail Sales contracted at a faster-than-expected pace in October and the flash S&P Global/CIPS Composite Purchasing Managers’ Index (PMI) for November came in below the 50.0 threshold for the first time since October 2023. Read more...

GBP/USD Forecast: Pound Sterling remains fragile as key resistance remains intact

GBP/USD gathered bullish momentum at the weekly opening and climbed above 1.2600. After failing to stabilize above this level, however, the pair lost its traction and retreated to the 1.2550 area in the European morning. News of Donald Trump selecting fund manager Scott Bessent as his nominee for the US Treasury Secretary caused US Treasury bond yields to decline sharply at the beginning of the week. Read more...

GBP/USD climbs to 1.2600, away from multi-month low set on Friday on weaker USD

The GBP/USD pair opens with a bullish gap at the start of a new week and for now, seems to have snapped a three-day losing streak to sub-1.2500 levels, or its lowest level since May touched last Friday. Spot prices climb to the 1.2600 mark during the Asian session and draw support from a weaker US Dollar (USD). Read more...

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