Pound Sterling Price News and Forecast: GBP/USD pound plummets, targets 1.2600 as evening star surfaces

FXStreet Team FXStreet

GBP/USD Price Analysis: Pound plummets, targets 1.2600 as evening star surfaces

The Pound Sterling lost ground versus the Greenback on Wednesday following the release of US housing data, which highlights the sector's weakness, yet the buck trades at around 8-week highs, as shown by the US Dollar Index (DXY). The GBP/USD trades at 1.2642, down 0.34%. Read More...

Pound Sterling weakens amid uncertainty ahead of US core PCE inflation

The Pound Sterling (GBP) weakens against the US Dollar (USD) in Wednesday’s New York session. The GBP/USD pair falls vertically after the recovery move stalled near the round-level resistance of 1.2700. The Cable slumps amid uncertainty ahead of the United States (US) core Personal Consumption Expenditures Price Index (PCE) data for May, which will be published on Friday. Read More...

GBP/USD Price Analysis: Consolidates below 1.2700; 50/100-day SMAs confluence holds the key

The GBP/USD pair extends its sideways consolidative price move for the second straight day and remains confined in a narrow range below the 1.2700 mark during the Asian session on Wednesday. The lack of any meaningful buying, meanwhile, warrants some caution before positioning for an extension of the recent bounce from the 1.2625-1.2620 region, or the lowest level since mid-May touched last Friday. Read More...

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