GBP/USD Price Forecast: Climbs to three-day peak, approaches 1.3000
The Pound Sterling recovered some ground and traded at around three-day highs of 1.2998 yet remained unable to crack the 1.3000 figure at the time of writing. Market mood has improved slightly, a headwind for Greenback, which, despite that, is headed to sustain weekly gains of more than 0.50%. Read More...
Pound Sterling gains further on BoE Mann's hawkish remarks
The Pound Sterling (GBP) rises further near the psychological resistance of 1.3000 against the US Dollar (USD) in Friday’s New York session. The GBP/USD pair gains as the US Dollar extends its correction after the release of the United States (US) Durable Goods Orders data for September. The US Dollar Index (DXY), which gauges Greenback's value against six major currencies, tests territory below 104.00. New orders for core goods contracted at a steady pace of 0.8% in September, however, the pace of decline was slower than expectations of 1.0%, pointing to a steady market for durable goods. Read More...
GBP/USD rebounds despite UK PMI miss
GBP/USD recovered some much-needed ground on Thursday, climbing 0.4% as Cable bidders grapple with keeping price action north of the 1.2900 handle. UK Purchasing Managers Index (PMI) figures broadly missed the mark early Thursday, but both the Services and Manufacturing PMI components held north of contraction territory below 50.0. Read More...
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