The Pound Sterling (GBP) rises above 1.3150 against the US Dollar (USD) in Thursday’s London session.
The Pound Sterling gains against the US Dollar as lower US job vacancies in July boost chances that the Fed will opt for a large interest-rate cut. Weak US job vacancy data raise red flags about labor market conditions. Investors see the BoE leaving interest rates unchanged at 5% at this month’s meeting. The Pound Sterling rises above 1.3150 against the US Dollar in Thursday’s London session.
3150 from a fresh weekly low of around 1.3090 against the US Dollar. TheGBP/USD pair strengthens after discovering strongbuying interest near the breakout region of an upward-sloping trendline plotted from December 28, 2023 high of 1.2828 on the daily time frame. Upward-sloping short-to-long-term Exponential Moving Averages suggest a strong bullish trend. The 14-day Relative Strength Index rebounds from60.00, suggesting a resumption in the bullish momentum.
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