GBP/USD rebounds to near 1.2140 on subdued DXY, UK GDP and US Core PCE Price Index eyed

GBP/USD has attracted some bids around 1.2106 as the DXY has surrendered 105.00. The pound bulls are weakened as the UK economy is facing a very large real income shock. UK’s GDP numbers are seen stable while the annual US core PCE Price Index may slip to 4.7%. The GBP/USD pair has attempted a rebound … Read more

GBP/USD flirts with 1.2100, lowest in nearly two weeks post-Fed’s Powell and BoE’s Bailey

GBP/USD watch heavy follow-through selling and dropped to a nearly two-week low. Fed Chair Powell’s hawkish comment boosted the USD and exerted downward pressure. Comments by BoE Governor Bailey did little to impress bulls or lend support to the pair. The GBP/USD pair added to the previous day’s heavy losses and remained under intense selling … Read more

GBP/USD struggles near two-week low, just above mid-1.2100s ahead of central bank speakers

GBP/USD turned lower for the third straight day and dropped to a nearly two-week low. Hawkish Fed expectations and the mood offered support to the safe-haven USD. The downside seems cushioned as the focus remains on Fed Chair Powell and BoE’s Bailey. The GBP/USD pair prolonged this week’s retracement slide from the 1.2330-1.2335 region and … Read more

EUR/GBP can continue to trade near 0.86, cable looks more vulnerable – ING

EUR/GBP trades comfortably slightly above the 0.86 level. Economists at ING expect the pair to continue moving around this zone. Quite resilient “Sterling has weathered news of another potential Scottish referendum (19 October 2023) quite well. That may well be because the chances of Westminster granting it are unlikely—though it looks like markets may be … Read more

GBP/USD regains directionless mode extends, awaiting fresh signal

GBP/USD bears keep reins under 1.2200 with eyes on BOE’s Bailey, Fed’s Powell GBP/USD dribbles around the weekly low of 1.2180, after declining the most over a week, as sellers take a breather ahead of the key data/events. However, pessimism surrounding Brexit, economic slowdown and inflation woes keep the downside bias intact. US Core PCE, … Read more

GBP/USD slides to three-day low, around 1.2230 area amid modest USD uptick

GBP/USD witness some intraday selling on Tuesday and dropped to a three-day low. Brexit woes, less hawkish BoE expected continued acting as a headwind for sterling. Rising US bond yields revived the USD demand and contributed to the intraday selling. The GBP/USD pair retreated nearly 60 pips from the daily swing high touched during the … Read more

BoE prioritizing growth over containing inflation to favour downside – CIBC

GBP/USD is moving below 1.23. The Bank of England (BoE) prioritizing growth over containing inflation suggests GBP downside, compounded by political risks, including a potential trade spat with the EU, economists at CIBC Capital Markets report. BoE still hiking but risks undershooting expectations “Sliding consumer sentiment and spending, as real earnings head lower, will help … Read more

GBP/USD stays firm around 1.2270s ahead of US Consumer confidence

The lack of a fresh catalyst kept the pound within familiar ranges. A mixed market mood, spurred by higher global bond yields, put a lid on GBP/USD gains. GBP/USD Price Forecast: Remains tilted to the downside, but a test towards 1.2300 is on the cards. The British pound remains to trade in a narrow range … Read more

GBP/USD oscillates around 1.2300 ahead of US Durable Goods Orders

GBP/USD is struggling to overstep 1.2300 as investors await the US Durable Goods Orders. Investors should brace for a vulnerable performance from the US economic data. The BOE may dictate a jumbo rate hike in July considering its inflation rate is above 9%. The GBP/USD pair is juggling in a narrow range of 1.2259-1.2297 in … Read more