Pound Sterling Price News and Forecast: GBP/USD remains below 50-day EMA near the confluence of 1.3400

GBP/USD Price Forecast: Remains below 50-day EMA near the confluence of 1.3400

GBP/USD remains steady after four days of losses, trading around 1.3370 during the European hours on Wednesday. The pair is holding a mildly bearish near‑term bias as spot remains capped beneath the 50‑day and nine-day Exponential Moving Averages (EMAs).

The 14-day Relative Strength Index (RSI) at 49.56 sits near the neutral line, hinting at consolidative momentum rather than a decisive directional push. Read more...

British Pound remains depressed against US Dollar following soft UK inflation data

The British Pound (GBP) consolidates losses against the US Dollar (USD) on Wednesday, as a string of UK inflation figures provided some leeway for the Bank of England to maintain its “wait-and-see” stance through the coming months. The GBP/USD pair remains pinned near weekly lows, below 1.3400 following a nearly 1.2% decline in the last four days.

Data released by the UK National Statistics Office on Wednesday revealed that the Consumer Price Index (CPI) moderated to a 2.6% year-over-year (Y-o-Y)  growth in June, from 2.8% in May, below the 2.7% forecasted by market analysts. The Core CPI, however, remained steady at 2.6% against expectations of a 2.5% reading. Read more...

British Pound attracts bids against Japanese Yen after mixed UK CPI data

The British Pound (GBP) witnesses slight buying interest against its major currency peers after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for June. Against the Japanese Yen (JPY), the British currency rebounds strongly from the intraday low of 218.20.

The Office for National Statistics (ONS) has reported a slower-than-expected headline CPI growth. The headline inflation arrives at 2.6% Year-on-Year (YoY), lower than the estimates of 2.7% and the previous reading of 2.8%. On a monthly basis, the headline inflation rises at a moderate pace of 0.1%, as expected, against the previous reading of 0.2%. Read more...