Pound Sterling Price News and Forecast: GBP/USD holds positive ground above 1.2760
|GBP/USD gains ground above the 1.2760 area, investors await UK Retail Sales
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).
On Wednesday, the UK’s National Statistics revealed that the nation's Consumer Price Index (CPI) MoM came in at -0.4%, beating market estimation of -0.5% versus the previous reading of 0.1%. The annual British CPI inflation rose 6.8% for June, as expected at 6.8%. The core CPI, which excludes volatile oil and food prices for July, increased by 6.9%, above the estimated 6.8%. Read more...
GBP/USD Price Analysis: Bulls attack 1.2760 hurdle with eyes on UK Retail Sales
GBP/USD jostles with a short-term key resistance while making rounds to 1.2760 amid the early Asian session on Friday. In doing so, the Cable pair prods the three-day winning streak ahead of the UK Retail Sales for July.
That said, the Cable pair’s successful trading above a seven-week-old rising support line, around 1.2675 by the press time, joins the bullish MACD signals and gradually rising the RSI (14) line to keep the GBP/USD buyers hopeful. Read more...
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