Pound Sterling Price News and Forecast: GBP/USD retreats after facing a wall of resistance in 1.2400

FXStreet Team FXStreet

GBP/USD retreats after facing a wall of resistance in 1.2400, slips to 1.2370s

GBP/USD snaps two days of gains and tumbled below Thursday’s close of 1.2406, slumping toward 1.2370, amidst a choppy trading session. Inflation data revealed in the United States (US) augmented the likelihood of small-size rate hikes by the US Federal Reserve. Therefore, the GBP/USD is trading at 1.2372, below its opening price by 0.27%. Read More...

GBP/USD hangs near daily low, well offered below 1.2400 ahead of US PCE Price Index

The GBP/USD pair continues with its struggle to find acceptance above the 1.2400 mark and comes under some selling pressure on the last day of the week. The pair remains on the defensive through the first half of the European session and is currently placed around the 1.2380-1.3375 region, just a few pips above the daily low. Read More...

UK Hunt: Best tax cut right now is a cut in inflation

The UK Chancellor of the Exchequer Jeremy Hunt said on Friday that the “best tax cut right now is a cut in inflation.” Read More...

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