GBP/USD struggles around 1.3600 on BOE, Brexit concerns ahead of UK Retail Sales
GBP/USD differs from other risk-sensitive currency pairs to remain inactive around 1.3590-95 during early Friday. In doing so, the cable pair struggles to justify the risk-off mood amid contrasting signals concerning Brexit and the Bank of England’s (BOE) next move ahead of the key UK Retail Sales for December.
|Today last price||1.36|
|Today Daily Change||0.0011|
|Today Daily Change %||0.08|
|Today daily open||1.3589|
|Previous Daily High||1.3662|
|Previous Daily Low||1.3587|
|Previous Weekly High||1.3749|
|Previous Weekly Low||1.3532|
|Previous Monthly High||1.355|
|Previous Monthly Low||1.3161|
|Daily Fibonacci 38.2%||1.3616|
|Daily Fibonacci 61.8%||1.3633|
|Daily Pivot Point S1||1.3563|
|Daily Pivot Point S2||1.3538|
|Daily Pivot Point S3||1.3488|
|Daily Pivot Point R1||1.3638|
|Daily Pivot Point R2||1.3687|
|Daily Pivot Point R3||1.3713|
GBP/USD outlook: Sterling bounces on rising expectations for another rate hike as inflation hits
Cable regained traction and bounced on Wednesday, signaling an end of three-day pullback, sparked by a double rejection at 200DMA (1.3733) last week. Pound was boosted by UK CPI data which showed that inflation in Britain continued to rise and hit the highest level in nearly 30 years in December, offsetting policymakers’ general view of transitory process and boosting hopes for another BoE’s rate hike on Feb 3 monetary policy meeting.
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