Pound Sterling Price News and Forecast: GBP/USD drops as BoE holds rates, hints uncertainty on future cuts

FXStreet Team FXStreet

GBP/USD drops as BoE holds rates, hints uncertainty on future cuts

The British Pound (GBP) depreciated against the US Dollar (USD) after the Bank of England (BoE) decided to keep rates unchanged and warned about interest rate cuts due to “a lot of economic uncertainty at the moment,” said BoE Governor Andrew Bailey. At the time of writing, GBP/USD is trading at 1.2964, down 0.29%. Read More...

Pound Sterling attracts bids after BoE leaves interest rates unchanged at 4.5%

The Pound Sterling (GBP) rebounds against its major peers in the early North American session on Thursday. The British currency bounces back after the Bank of England (BoE) keeps interest rates steady at 4.5%, as expected. Eight out of nine Monetary Policy Committee (MPC) members voted for leaving borrowing rates at their current levels, while one supported a 25 basis points (bps) interest rate reduction against two anticipated by market participants. Read More...

GBP/USD Price Forecast: Holds position above 1.3000 near five-month highs

The GBP/USD pair remains in positive territory for the fourth successive session, trading around 1.3010 during the Asian hours on Thursday. Technical analysis of the daily chart indicates a continued bullish bias, with the pair moving upwards within an ascending channel pattern. Read More...

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EUR/USD remains bid near 1.1650 post-US ADP

Finally some respite for the risk complex see EUR/USD partially recover from the recent steep sell-off, this time hovering around the 1.1650 zone amid decent gains in a context of renewed selling pressure on the US Dollar. However, the duration and extension of this bounce should be put to the test amid the unabated tensions in the Middle East.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery comes on the back of the fresh downward bias in the Greenback amid a marginal improvement in the global sentiment and steady geopolitical effervescence.

Gold flirts with $5,200 amid safe haven demand

Gold partially fades Tuesday’s sharp pullback, regaining the $5,200 mark per troy ounce on the back of the resurgence of investors’ demand for the safe-haven space. The precious metal remains well propped up by the deterioration of the geopolitical scenario in the Middle East, while the softer tone in the US Dollar collaborates with the uptick.