GBP/USD Price Analysis: Climbs back above 1.2700 on US holiday
The Pound Sterling modestly gains versus the Greenback on Wednesday, amid thin liquidity conditions, due to US traders being in observance of Juneteenth. Therefore, with US markets being closed, the GBP/USD could remain subdued, and trade at 1.2729 at the time of writing. Read More...
Pound Sterling gains further as sticky UK service CPI dents BoE early rate-cut bets
The Pound Sterling (GBP) edges higher above the round-level resistance of 1.2700 on Wednesday after the United Kingdom (UK) Office for National Statistics (ONS) showed that price pressures declined as expected in May. UK’s annual headline inflation returned to the central bank’s target of 2% for the first time in more than three years from April’s reading of 2.3%. In the same period, the core Consumer Price Index (CPI), which excludes volatile food and energy prices, declined to 3.5% from the former reading of 3.9%. Read More...
GBP/USD consolidates in a range around 1.2700 mark, eyes UK CPI for fresh impetus
The GBP/USD pair struggles to gain any meaningful traction on Wednesday and oscillates in a narrow trading band, around the 1.2700 round-figure mark during the Asian session. Spot prices, meanwhile, hold above a one-month low touched last Friday as traders keenly await the release of the latest UK consumer inflation figures before positioning for the next leg of a directional move. Read More...
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