GBP/USD trades on a stronger note near 1.2680 in Monday’s early European session. The pair maintains the negative stance on the 4-hour chart, with the bearish RSI indicator. The key resistance level will emerge in the 1.2680-1.2685 region; the initial support level is located at 1.2610. The decline of the Greenback after softer US Personal Consumption Expenditures Price Index data creates a tailwind for the major pair.
How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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GBP/USD Price Analysis: The potential support level is located above 1.2700The GBP/USD pair trades in negative territory for the second consecutive day near 1.2715 during the early European session on Monday.
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GBP/USD Price Analysis: Posts weekly losses, directionless beneath 1.2650The GPB/USD is subdued during the North American session on Friday following a positive UK GDP report, yet an uptick in the Fed’s preferred gauge of inflation, the PCE Price Index, capped the major, which trades at 1.2642, virtually unchanged.
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GBP/USD Price Analysis: Remains vulnerable near monthly low, US PCE data awaitedThe GBP/USD pair extends the overnight late pullback from the 1.2670 region and trades with a mild negative bias during the Asian session on Friday.
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GBP/USD Price Analysis: Remain bearish despite bouncing off weekly lowsThe Pound Sterling gathers some steam versus the Greenback, yet it remains trading below the weekly highs of 1.2703 as investors await the US Personal Consumption Expenditure (PCE) Price Index release, along with fears of the upcoming general election in the UK.
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GBP/USD Price Analysis: Edges higher amid modest USD downtick, not out of the woods yetThe GBP/USD pair attracts some buyers near the 1.2615-1.2610 area, or its lowest level since mid-May touched during the Asian session on Thursday and reverses a part of the previous day's steep decline.
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GBP/USD Price Analysis: Pound plummets, targets 1.2600 as evening star surfacesThe Pound Sterling lost ground versus the Greenback on Wednesday following the release of US housing data, which highlights the sector's weakness, yet the buck trades at around 8-week highs, as shown by the US Dollar Index (DXY).
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