Pound Sterling Price News and Forecast: GBP/USD holds ground despite overbought conditions [Video]

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling holds ground despite overbought conditions

GBP/USD extended its weekly uptrend and touched a fresh monthly high near 1.3600 before correcting lower. The pair's near-term technical outlook continues to show overbought readings as investors await mid-tier data releases.

The risk-positive market atmosphere made it difficult for the US Dollar (USD) to find demand on Wednesday and helped GBP/USD to continues to push higher. Read more...

Pound hits multi-week high as markets await GDP data

The GBP/USD pair climbed to 1.3575 on Thursday, marking a fresh three-week high. The uptick followed encouraging UK labour market data, which showed fewer job losses than anticipated in July, easing economic concerns.

Employment figures revealed a decline of just 8,000 workers—well below the forecasted 20,000—while previous months’ data was revised upwards. This suggests resilience in the labour market, despite the Labour government’s £26 billion tax hike. Read more...

GBP/USD forecast: Post-CPI breakout holds near 1.36 as Fed cut odds hit 95.8% [Video]

Sterling has extended its bullish momentum against the U.S. dollar, trading below the 1.36 level after a powerful post-CPI surge. The rally unfolded in a sequence that blended liquidity concepts with macro fundamentals, particularly, CPI as the catalyst for upside. Read more...

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