GBP/USD Price Forecast: Stays below 1.3400 after robust UK data
The pound sterling maintained gains against the US dollar during the North American session and rose 0.14%. Earlier, solid UK gross domestic product (GDP) data helped push the stock above 1.3400, but bulls failed to keep the exchange rate above the latter. The GBP/USD rate is 1.3387. Read more…
Sterling is struggling to stay above 1.3400 ahead of Powell’s Fed
The pound sterling (GBP) is reversing some of its gains after facing selling pressure above the round resistance level of 1.3400 against the US dollar (USD) during Monday’s trading session in New York. GBP/USD gives up tiny gains as the dollar rebounds from declines to near-yearly lows and the US Dollar Index (DXY), which tracks the dollar’s value against six major currencies, bounces off key support at 100.20. Earlier, the US dollar weakened after data released on Friday showed that US inflation slowed further in August. Read more…
GBP/USD strengthens above 1.3350 amid dovish Fed data and weaker PCE data from the US
During Monday’s early Asian session, GBP/USD remains positive near 1.3385. Expectations for further interest rate cuts by the Federal Reserve (Fed) and the less dovish stance of the Bank of England (BoE), and less dovish bets on interest rate cuts, provide some support for the main pair. Fed Governor Michelle Bowman is scheduled to speak later on Monday. Read more…
