GBP/USD Weekly Forecast: Recovery time? UK inflation and jobs data could counter dollar surge
GBP/USD has been extending its decline in response to high US inflation data. Highest since 1990 – US inflation has hit 6.2%, reaching not only a historic peak but also sending the dollar substantially higher. The mix of Brexit acrimony and disappointing UK growth figures contributed to a downfall for GBP/USD. What's next? Critical data for the subsequent rate decisions stand out in the upcoming week. Read more...
GBP/USD Forecast: Can renewed Brexit optimism save the pound?
GBP/USD has been having a tough time staging a rebound. GBP/USD has extended slide to a fresh 2021 low early Friday before going into a consolidation phase. The pair's potential recovery depends on Brexit developments as the dollar is likely to hold its ground with investors pricing a 72% chance of a Federal Reserve rate hike by June 2022. Read more...
GBP/USD Price Analysis: Failure at 1.3430 opens the door for a further downfall, towards 1.3200
The British pound bounces off year-to-date lows at 1.3352, edges up 0.40%, trading at 1.3418 during the New York session at the time of writing. In the last three days, cable lost almost 2%, driven mainly by US dollar strength, influenced by higher inflation figures in the US economy, reported by the Labor Department. Also, a dovish stance perceived by investors in the last Bank of England (BoE) monetary policy meeting fueled the slide of the GBP. 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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD turns negative near 1.1140 on Dollar's rebound
The Dollar's recovery now gathers extra steam and put the risk complex under pressure, motivating EUR/USD to give away previous gains and accelerate its decline to the area of daily lows around 1.1140.
GBP/USD loses momentum and breaks below 1.3400
Quite a marked bounce in the Greenback prompts GBP/USD to face renewed downside pressure and breach the key support around 1.3400 the figure ahead of the speech by Chair Powell.
Gold extends slide and pierces $2,630
Gold extends its downward correction to start the week and trades deep in negative territory near $2,630. Profit-taking ahead of the long Chinese holiday and the cautious market mood seems to be weighing on XAU/USD as markets await Fed Chairman Powell's speech.
Johann Kerbrat, Robinhood Crypto GM: “US regulation to be late compared to EU and Asia”
Johann Kerbrat is the Crypto General Manager at Robinhood, the trading app used by many US retail investors during the 2020 meme stock mania.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.