GBP/USD back below 1.2675 after BoE keeps rates pinned. BoE voting split remains unchanged at seven-to-two. Softer US data further eroded market sentiment, bolstering Greenback. GBP/USD slipped lower on Thursday after the Bank of England held rates at 5.25%, citing ongoing concerns about the central bank’s ability to sustainably keep inflation at or below the 2.0% target.
GBP/USD hourly chart GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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GBP/USD Forecast: Dovish BoE hold could weigh on Pound SterlingGBP/USD stays relatively quiet and fluctuates in a tight channel above 1.2700 in the European morning on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Price Analysis: Consolidates above 1.2700 mark as traders await BoE policy updateThe GBP/USD pair trades with a mild negative bias during the Asian session on Thursday and moves further away from the weekly low, around the 1.2740 area touched the previous day.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD finds a foothold ahead of BoE’s upcoming rate callGBP/USD elbowed its way firmly above 1.2700 in quiet Wednesday trading as GBP traders gear up for Thursday’s latest outing from the Bank of England (BoE), which is expected to keep rates on hold at 5.25% even as UK economic data continues to miss the mark, but not badly enough to spark institutional fears of an outright recession.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD: BoE's Dovish Surprise Could Spark Selloff - Watch for a Break Below 1.26Forex Analysis by Investing.com (Damian Nowiszewski) covering: GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »
BoE, Sterling Outlook: GBP/USD, GBP/CHF Key Levels and Scenarios to WatchAll eyes will be on the pound this week with crucial CPI data and the Bank of England rate decision in the balance. The Swiss National Bank adds uncertainty to the mix
Source: DailyFX - 🏆 305. / 63 Read more »
GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since May 14, 2024 when GBP/USD traded near 1.26.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
Source: DailyFX - 🏆 305. / 63 Read more »