GBPUSD appreciates further and reaches session highs near 1.1400
The pound has continued appreciating during Friday’s US afternoon trading, buoyed by the broad-based USD weakness, to reach session highs at 1.1380. The pair has shrugged off the previous day’s negative pressure on Friday, to perform a shocking 1.9% daily rally after bouncing from the lower range of the 1.1100s to close the week a few pips shy of 1.1400. Read more…
GBPUSD Weekly Forecast: Risks skewed to the downside in US inflation week
The relief rally in the GBPUSD pair was shortlived, as the monetary policy divergence between the US Federal Reserve (Fed) and the Bank of England (BoE) overshadowed the renewed UK political calm. The pair booked the first weekly loss in four amid resurgent demand for the US Dollar (USD) and US Treasury yields. What’s next for the Pound Sterling (GBP) and the USD, as attention turns towards the United States mid-term Congressional elections and the critical Consumer Price Index (CPI) data in the week ahead. Read more…
GBPUSD outlook: Bears take a breather ahead of US job report
Cable edges higher in early Friday as traders collect profits after bearish acceleration below 1.15 handle in past two days found footstep at solid Fibo support at 1.1150 (38.2% of 1.0348/1.1645). The pound is weighed by BoE’s gloomy outlook for the economy, while the most recent hawkish tones from Fed suggest that the US central bank will remain in aggressive mode in policy tightening. Read more…