The Pound Sterling hit five-month lows below 1.2400 against the US Dollar. GBP/USD is set for more pain, with US advance GDP due in the week ahead. The Pound Sterling tested 1.2400, daily RSI still remains in the negative zone. The Pound Sterling accelerated its south run against the US Dollar , knocking the GBP/USD pair to levels unseen since late November 2023.
Monday is quiet, in terms of data publications, and hence, attention turns toward Tuesday’s S&P Global Preliminary Manufacturing and Services PMI data for April from both the UK and the US. Also, the US New Homes Sales data and Treasury’s Currency Report will entertain traders. The US Durable Goods Orders data for March will feature on Wednesday, followed by the high-impact Advance first-quarter US Gross Domestic Product report on Thursday.
Currencies Majors Technical Analysis
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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 looks set for further downsideThe Pound Sterling (GBP) remained defensive against the US Dollar (USD) for the third consecutive week, as the GBP/USD entered a downside consolidation phase below 1.2700.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Forecast: Pound Sterling suffers from renewed US Dollar strengthThe Pound Sterling (GBP) failed to sustain the bounce against the US Dollar (USD), as the GBP/USD pair lost upside momentum once again when it tried to reach 1.2700.
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Forecast: Pound Sterling could extend rally if it clears 1.2800 on BoEGBP/USD reversed its direction after dipping below 1.2700 on Wednesday and closed the day decisively higher, supported by the broad-based selling pressure surrounding the US Dollar (USD).
Source: FXStreetNews - 🏆 14. / 72 Read more »
GBP/USD Forecast: Pound Sterling suffers from increasing BoE rate cut betsThe Pound Sterling (GBP) failed to hold its upswing against the US Dollar (USD), as the GBP/USD correction from seven-month highs of 1.2894 regained traction in the central banks’ bonanza week.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Pound Sterling Latest: GBP/USD Attempts Come Back Post-FOMC Sell-offCable attempts to claw back losses that ensued after the Fed meeting. Catherine Mann, a more hawkish member of the MPC, detailed why she no longer voted to hike
Source: DailyFX - 🏆 305. / 63 Read more »
Pound Sterling Update: GBP/USD Lifts Higher, GBP/CHF Treads CarefullySterling boasts a strong interest rate differential, but encouraging inflation data has undermined the currency somewhat. UK data is light but NFP ought to shake things up
Source: DailyFX - 🏆 305. / 63 Read more »