Pound Sterling Price News and Forecast: GBP/USD is seen consolidating in a narrow band

FXStreet Team FXStreet

GBP/USD Price Analysis: Languishes near seven-month low, 38.2% Fibo./just above mid-1.2000s

The GBP/USD pair struggles to register any meaningful recovery and languishes near its lowest level since March 16, around the 1.2050 area touched the previous day.

The prospects for further policy tightening by the Federal Reserve (Fed) remain supportive of elevated US Treasury bond yields and assist the US Dollar (USD) to stand tall near a 10-month high. This, along with the prevalent risk-off environment, is seen as another factor benefitting the Greenback's relative safe-haven status. Apart from this, the Bank of England's (BoE) surprise on-hold decision in September continues to undermine the British Pound (GBP) and acts as a headwind for the GBP/USD pair. Read more...

GBP/USD Price Analysis: Languishes near seven-month low, 38.2% Fibo./just above mid-1.2000s

The GBP/USD pair struggles to register any meaningful recovery and languishes near its lowest level since March 16, around the 1.2050 area touched the previous day.

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FXStreet Team

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