GBP/USD Price Analysis: Gains despite standing bearish below 1.2700
The Pound Sterling held to earlier gains against the US Dollar on Tuesday at the time the Federal Reserve Chair Jerome Powell crossed the wires at the European Central Bank (ECB) forum in Portugal and said that inflation may get back to the Fed’s 2% target late next year or the following. The GBP/USD trades at 1.2667, above its opening price by 0.14%. Read More...
Pound Sterling rises as Fed Powell admits progress in disinflation
The Pound Sterling (GBP) recovers sharply after retracing to 1.2620 against the US Dollar (USD) in Tuesday’s New York session. The GBP/USD pair rebounds as the US Dollar (USD) surrenders of its gains after Federal Reserve (Fed) Chair Jerome Powell said in his speech at the European Central Bank (ECB) Forum on Central Banking that disinflation appears to have resumed. Fed Powell added that the central bank has made quite a bit of progress in inflation but said that more good inflation data is needed before reducing interest rates. Powell's comments were much more in line with estimates and his speech delivered at the June policy meeting. Read More...
GBP/USD lacks firm near-term direction, remains confined in a range around mid-1.2600s
The GBP/USD pair extends its sideways consolidative price move during the Asian session on Tuesday and remains confined in a familiar range held over the past two weeks or so. Spot prices currently trade around the 1.2655-1.2645 confluence region – comprising 50-day and 100-day Simple Moving Averages (SMAs) – amid the anxiety surrounding the upcoming UK general elections on Thursday. 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
AUD/USD: Immediately to the upside comes 0.6700
AUD/USD maintained its erratic performance on Tuesday, reversing part of Monday’s retracement, with the upside always capped by the 0.6700 zone ahead of key US data releases on Wednesday.
EUR/USD needs to clear the 200-day SMA for further gains
EUR/USD managed to extend its multi-session apathetic advance amidst the flattish price action in the Greenback and the majority of the risk-linked assets, all prior to the publication of key releases in the US docket on Wednesday.
Gold under mild selling pressure around $2,320
The precious metal now fades the initial uptick and trades with modest losses near the $2,320 zone per ounce troy in response to the data-driven bounce in the Greenback.
Ripple escrow unlocks one billion XRP on Monday as altcoin ranges above $0.47
Ripple (XRP) escrow unlocked 1 billion tokens on Monday as part of the planned unlock until January 2025. XRP hovers around $0.48 early on Tuesday, adding more than 1% to its value on the day.
From bold to boring
After a rollicking spring rally, gold has settled into a trading range that seems typical for a summertime slowdown. One indicator is now pointing toward a big surprise soon, however.