The Pound Sterling (GBP) trades in a tight range near 1.2850 against the US Dollar (USD) in Tuesday’s London session.
The Pound Sterling ranges against the US Dollar near 1.2850 with a focus on Fed /BoE policy meetings. Traders raise BoE rate-cut bets despite stubborn UK service inflation. Investors see the Fed delivering a dovish interest rate guidance. The Pound Sterling trades in a tight range near 1.2850 against the US Dollar in Tuesday’s London session.
Reeves announced that she will hold her first fiscal budget on October 30. Technical Analysis: Pound Sterling juggles near 1.2850 The Pound Sterling is going through a mean-reversion move toward the lower boundary of the Rising Channel chart pattern on a daily timeframe. The GBP/USD pair fell on the back foot after breaking below the crucial support of 1.2900. The Cable drops below the 20-day Exponential Moving Average near 1.2860, suggesting uncertainty in the near-term trend.
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