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Pound Sterling Price News and Forecast: GBPUSD reached fresh bull cycle highs on US Dollar weakness

GBP/USD Price Analysis: Bulls eye 1.2350, but weak hands could throw in the towel

The US Dollar weakened to three-month-lows against the Pound Sterling on Thursday, after comments by Federal Reserve Chair Jerome Powell that US rate hikes could be scaled back "as soon as December". GBP/USD took on 1.2300 and is showing signs of exhaustion on the charts.

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GBP/USD outlook: Sterling extends advance as risk sentiment improves further

Cable accelerated gains on Thursday, lifted by renewed risk sentiment, following comments from Fed Powell on Wednesday, which deflated dollar on less hawkish than expected stance, while solid US data on Thursday further boosted risk appetite.

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