Pound Sterling Price News and Forecast: GBP/USD dovish pivot for sterling

FXStreet Team FXStreet

Pound Sterling plummets as soft UK Inflation boosts dovish BoE bets

The Pound Sterling (GBP) falls vertically below the psychological support of 1.3000 against the US Dollar (USD) in Wednesday’s London session. The US Dollar stays afloat near a more than two-month high as traders have priced in moderate interest rate cuts from the Federal Reserve (Fed) in the remaining policy meetings this year, with the US Dollar Index (DXY) holding onto gains near 103.30. The Fed started the policy-easing cycle with a larger-than-usual size of 50 basis points (bps) in September. Read more...

GBP: Dovish pivot for sterling – ING

The Pound Sterling (GBP) is trading almost half a percent lower this morning after the September CPI report showed the closely-monitored services inflation falling more than expected from 5.6% to 4.9%, ING’s FX analyst Francesco Pesole notes. Read more...

GBP/USD: 1.3000 seems out of reach for now – UOB Group

There has been no further increase in momentum; a breach of 1.3125 would suggest that 1.3000 is out of reach, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD clings to small gains near 1.1750

Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.

GBP/USD remains confined in a range above mid-1.3300s ahead of UK jobs report

The GBP/USD pair extends its sideways consolidative price move through the Asian session on Tuesday and currently trades around the 1.3370-1.3365 region, nearly unchanged for the day. Traders seem reluctant and opt to wait for this week's important macro releases and the key central bank event risk before placing fresh directional bets.

Gold defends $4,300 as focus shifts to US NFP, PMI data

Gold price holds the $4,300 level, easing from the highest since October 21 in the Asian trading hours on Tuesday. The precious metal stays afloat on further US Federal Reserve rate cut bets. The US Nonfarm Payrolls report will take center stage later on Tuesday. Also, the US Retail Sales and Purchasing Managers Index will be published.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.