Pound Sterling Price News and Forecast: GBP/USD weakens and drops below 1.3400 as USD recovers

FXStreet Team FXStreet

GBP/USD Price Forecast: Weakens and drops below 1.3400 as USD recovers

The Pound Sterling lost some steam against the US Dollar in early trading during Wednesday’s North American session after hitting a yearly peak of 1.3429. The GBP/USD trades at 1.3389, down 0.18%, as the Greenback recovers some ground. Read More...

Pound Sterling corrects while BoE less-dovish bets keeps outlook firm

The Pound Sterling (GBP) drops sharply from the crucial resistance of 1.3400 against the US Dollar (USD) in Wednesday’s North American session. The GBP/USD pair falls as the US Dollar shows a minor recovery from the yearly low. However, the near-term outlook of the US Dollar remains vulnerable on expectations that the Federal Reserve (Fed) could deliver one more big interest rate cut in one of the two policy meetings remaining this year. Read More...

GBP/USD remains firm above 1.3400 mark, highest since March 2022

The GBP/USD pair builds on its recent gains registered over the past two weeks and advances to its highest level since March 2022, around the 1.3430 region during the Asian session on Wednesday. Meanwhile, the fundamental backdrop suggests that the path of least resistance for spot prices is to the upside, though slightly overbought conditions on the daily chart warrant some caution for bullish traders. Read More...

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