Pound Sterling Price News and Forecast: GBP/USD remains fragile as key resistance remains intact
|Pound Sterling rises as traders expect BoE to follow gradual policy-easing path
The Pound Sterling (GBP) bounces back strongly at the start of the week and outperforms its major peers after facing a sharp sell-off on Friday. The British currency declined on Friday after the United Kingdom (UK) Retail Sales contracted at a faster-than-expected pace in October and the flash S&P Global/CIPS Composite Purchasing Managers’ Index (PMI) for November came in below the 50.0 threshold for the first time since October 2023. Read more...
GBP/USD Forecast: Pound Sterling remains fragile as key resistance remains intact
GBP/USD gathered bullish momentum at the weekly opening and climbed above 1.2600. After failing to stabilize above this level, however, the pair lost its traction and retreated to the 1.2550 area in the European morning. News of Donald Trump selecting fund manager Scott Bessent as his nominee for the US Treasury Secretary caused US Treasury bond yields to decline sharply at the beginning of the week. Read more...
GBP/USD climbs to 1.2600, away from multi-month low set on Friday on weaker USD
The GBP/USD pair opens with a bullish gap at the start of a new week and for now, seems to have snapped a three-day losing streak to sub-1.2500 levels, or its lowest level since May touched last Friday. Spot prices climb to the 1.2600 mark during the Asian session and draw support from a weaker US Dollar (USD). Read more...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.