GBP/USD Price Forecast: Weakness to fall below 1.3400 as USD recovers losses
Sterling fell slightly against the US dollar early in the North American session on Wednesday after hitting a yearly high of 1.3429. GBP/USD is trading at 1.3389, down 0.18%, as the US dollar regains some ground. Read more…
Sterling Corrects as BoE’s Less Dovish Bets Keep Outlook Solid
The British Pound (GBP) is falling sharply from the key resistance of 1.3400 against the United States Dollar (USD) in Wednesday’s North American session. The GBP/USD pair is falling as the US Dollar shows little improvement from its one-year low. However, the near-term outlook for the US Dollar remains vulnerable to expectations that the Federal Reserve (Fed) could deliver another gigantic interest rate cut at one of its two remaining policy meetings this year. Read more…
The GBP/USD pair remains above the 1.3400 level, the highest since March 2022.
GBP/USD is building on recent gains over the past two weeks to hit its highest level since March 2022 near 1.3430 during the Asian session on Wednesday. Meanwhile, the fundamental backdrop suggests the path of least resistance for spot prices is to the upside, although slightly overbought conditions on the daily chart warrant caution for bullish traders. Read more…
