GBP/USD Weekly Forecast: All eyes on Fed, BOE for a fresh direction
After finishing the week in negative territory, GBP/USD is looking forward to the Fed and BOE monetary policy decisions in the week ahead for the next directional bias. Mounting tensions over a looming recession and higher inflation dominated financial markets and favored the safe-haven US dollar throughout the week. Meanwhile, UK political jitters and dire economic outlook weighed on the pound. Read more...
GBP/USD Forecast: Pound sellers take action as key support fails
GBP/USD has extended its slide below 1.2500 after having closed the previous two days in negative territory. The broad-based dollar strength continues to weigh on the pair early Friday as investors gear up for the US inflation data. On Thursday, the European Central Bank (ECB) said there will be a 25 basis points rate hike in July but failed to convince markets that they will opt for a 50 bps increase in September. The shared currency came under strong selling pressure and the British pound managed to capture some of the capital outflows out of the euro. With EUR/GBP falling nearly 100 pips from session highs on Thursday, GBP/USD's losses remained relatively limited. Read more...
GBP/USD plummets to fresh three-week low, below 1.2400 amid US CPI-inspired USD strength
The GBP/USD pair extended this week's rejection slide from the 1.2600 neighbourhood and witnessed some follow-through selling for the third successive day on Friday. The intraday selling picked up pace during the early North American session and dragged spot prices to over a three-week low, below the 1.2400 round-figure mark. Read more...
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