Pound Sterling Price News and Forecast: GBP/USD dips on sour sentiment, soft UK retail sales


GBP/USD retreats from daily highs and losses for the second day in the week but remains set to finish the week on a higher note. Retail Sales in the United Kingdom (UK) were softer, but most data supports the Bank of England’s (BoE) case for a rate hike at its upcoming meeting. The GBP/USD is trading at 1.2740 after hitting a daily high of 1.2766. Read More….
GBP/USD Daily chart
The GBP/USD pair struggles to gain any meaningful traction on Friday and oscillates in a narrow range below a one-week high, around the 1.2785 region touched the previous day. Spot prices currently trade around mid-1.2700s, nearly unchanged for the day and holding steady around the 23.6% Fibonacci retracement level of the recent downfall from a 15-month peak touched in July. Read More…
The GBP/USD pair gains momentum and surges above mid-1.2750s during the early Asian session on Friday. The major pair currently trades near 1.2761, up 0.11% for the day. The strengthening of the Pound Sterling is bolstered by the inflation report and the probability of further interest rates by the Bank of England (BoE). Read More…

Articles You May Like

Losing shine? Investment demand for gold plummets to four-year lows
U.S. Latino economic output grows to $3.2 trillion, according to new study
Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
Dollar Rises Further after Durable Goods Orders, Aussie Falters on Evergrande Crisis
Trade ideas thread – Tuesday, 3 October 2023

Leave a Reply

Your email address will not be published. Required fields are marked *