GBP/USD Price Forecast: Rebounds on data, yet falls below 1.3100
The Pound Sterling recovered some ground against the Greenback on Tuesday, following a better-than-expected retail sales report, yet it has fallen below the 1.3100 figure as the North American session progresses. The GBP/USD trades at 1.3090, virtually unchanged. Read More…
Pound Sterling outperforms on prospects of BoE’s shallow rate-cut cycle
The Pound Sterling (GBP) outperforms its major peers on Tuesday, with investors focusing on Middle East tensions driving market sentiment. In Tuesday’s Asian session, Iran’s Foreign Minister Abbas Araqchi issued a warning to Israel that the nation will face a strong retaliation if it attempts to attack their infrastructure. Though the British currency also carries a negative correlation with the risk-aversion theme, market expectations for the Bank of England’s (BoE) shallow policy-easing cycle keep the downside limited. Read More…
GBP/USD struggles to capitalize on modest intraday gains beyond 1.3100 mark
The GBP/USD pair attracts some buyers during the Asian session on Tuesday and for now, seems to have snapped a five-day losing streak to a nearly four-week low, around the 1.3060 area touched the previous day. Spot prices, however, struggle to build on the uptick beyond the 1.3100 mark, warranting some caution for bullish traders. Read More…
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