GBP/USD: Expected to trade between 1.2440 and 1.2535 – UOB Group
GBP is expected to trade sideways between 1.2440 and 1.2535. In the longer run, GBP is expected to trade in a range, likely between 1.2420 and 1.2620, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
24-HOUR VIEW: “Our expectation for GBP to ‘consolidate in a range between 1.2450 and 1.2550’ turned out to be incorrect as GBP rose to 1.2575. GBP pulled back sharply from the high to close at 1.2479 (-0.34%). Despite the sharp pullback, there has been no significant increase in downward momentum. Read more...
GBP/USD Price Forecast: Bears likely to target 1.2350 area; focus remains on FOMC Minutes
The GBP/USD pair attracted some sellers for the second successive day on Wednesday and moved away from a one-week high, around the 1.2575 area touched the previous day. The downtick is sponsored by the emergence of some follow-through US Dollar (USD) buying, which now seems to have reversed a major part of its weekly losses registered on Monday amid the Federal Reserve's (Fed) hawkish shift.
In fact, the US central bank projected only two quarter-point rate cuts in 2025 amid still elevated inflation in the world's largest economy. Furthermore, US President-elect Donald Trump's policies are expected to stoke further inflation and force the Fed to slow the pace of rate cuts this year. The outlook was reinforced by Tuesday's upbeat US macro data, which pointed to a still resilient US economy. Read more...
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