Pound Sterling Price News and Forecast: GBP/USD struggles to lure buyers amid a modest US Dollar uptick

FXStreet Team FXStreet

GBP/USD holds steady above mid-1.3300s as traders await key data and BoE this week

The GBP/USD pair remains on the defensive during the Asian session on Monday, though it lacks bearish conviction and holds above the 200-day Simple Moving Average (SMA) pivotal support. Spot prices currently trade around the 1.3360 region, nearly unchanged for the day.

The US Dollar (USD) is looking to build on last week's modest bounce from an over two-month low and is turning out to be a key factor acting as a headwind for the GBP/USD pair. A slight deterioration in the global risk sentiment – as depicted by a generally weaker tone around the equity markets – is seen offering some support to the safe-haven buck. The USD bulls, however, seem reluctant to place aggressive bet amid dovish US Federal Reserve (Fed) expectations. Read more...

GBP/USD Weekly Forecast: Attention shifts to the BoE and hard data

The Pound Sterling (GBP) notched up a third straight week of gains, finally breaking through the 1.3400 mark. It’s been a steady climb, and one that says more about the other side of the pair than anything happening at home. Cable’s latest leg higher has come almost entirely on the back of renewed weakness in the Greenback, especially after the Federal Reserve (Fed) delivered an interest rate cut on Wednesday.

Looking ahead, the British Pound is likely to stay in the spotlight. A busy domestic calendar is lined up, with key UK data releases and the Bank of England (BoE) policy meeting on December 18 set to shape near-term direction. In the rates space, UK money markets have been far less decisive. Benchmark 10-year gilt yields chopped around during the week and ended barely changed, offering little in the way of fresh signals for FX traders. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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