GBP/USD retreats after hitting daily highs above 1.3850
The GBP/USD printed a fresh daily high during the American session at 1.3853 and then pulled back toward 1.3820. It is hovering around 1.3840, in positive ground for the day. Cable continues to move sideways, with support around 1.3800 and unable to confirm levels above 1.3900. Read more...
Pound steady as UK inflation jumps
The British pound has reversed directions and is in positive territory on Wednesday. GBP/USD is currently trading at 1.3823, up 0.15% on the day. The reopening of the UK economy in July has fuelled a rise in inflation, and August CPI surged 3.2% (YoY), up sharply from 2.0% in July. The BoE has taken a page from the Federal Reserve’s playbook, insisting that higher inflation is temporary. Read more...
GBP/USD Forecast: Sterling fails to break higher, fundamentals fight back, levels to watch
The quadruple top has crumbled – yet only temporarily. GBP/USD's move above the stubborn 1.3895 level has proved temporary and so has dollar weakness in response to weaker than expected US inflation figures. On the other side of the pond, UK consumer prices beat estimates – building a fundamental case for bulls. Read more...
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