The Pound Sterling (GBP) holds the late Wednesday’s recovery move from the psychological support of 1.3000 to near 1.3050 against the US Dollar (USD) in Thursday’s London session.
The Pound Sterling edges slightly up against the US Dollar, but a decline in bets that the Fed will opt for a large rate cut keeps the downside bias afloat. Investors see the BoE leaving interest rates unchanged at 5% at its September meeting. Market participants await the US PPI report for August. The Pound Sterling holds the late Wednesday’s recovery move from the psychological support of 1.3000 to near 1.3050 against the US Dollar in Thursday’s London session.
Technical Analysis: Pound Sterling rises slightly to near 1.3050 The Pound Sterling edges higher against the US Dollar to near 1.3050, recovering from 1.3000. However, the near-term outlook of the Cable has become gloomy as the pair’s price action falls below the trendline plotted from the December 28, 2023, high of 1.2828 – from where it delivered a sharp upside move after a breakout on August 21. Also, a downside move below the 20-day Exponential Moving Average near 1.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Forecast: Pound Sterling benefits from Fed-BoE policy divergenceThe Pound Sterling (GBP) sustained the rebound and hit a two-week high against US Dollar (USD), driving the GBP/USD pair to the 1.2900 mark amid a data-dominated week.
Read more »
Pound Sterling holds onto gains as Fed Powell gives greenlight to rate cutsThe Pound Sterling (GBP) trades close to an almost two-and-a-half-year high near 1.3200 against the US Dollar (USD) in Monday’s London session.
Read more »
Pound Sterling climbs above 1.3150 as Fed large rate cut bets swellThe Pound Sterling (GBP) rises above 1.3150 against the US Dollar (USD) in Thursday’s London session.
Read more »
Pound Sterling slides further as Fed large rate cut bets diminishThe Pound Sterling (GBP) struggles to hold the key support of 1.3100 against the US Dollar (USD) in Monday’s London session.
Read more »
Pound Sterling set to kick off the week with early PMI releaseThe British Pound (GBP) holds on to marginal gains during the European trading session on Monday, with US markets closed in observance of Labor Day. This means very slim volumes, even thinner than on a typical Monday. However, the UK market
Read more »
Pound Sterling declines to near 1.3100 with US Manufacturing PMI on the horizonThe Pound Sterling (GBP) exhibits a subdued performance slightly above the crucial support of 1.3100 against the US Dollar (USD) in Tuesday’s London session.
Read more »