The Pound Sterling (GBP) continued its downward trajectory on Thursday, struggling to maintain its position above the 1.3000 level against the US Dollar (USD). This decline was primarily driven by a combination of factors, including stronger-than-expected US economic data and growing optimism about a Donald Trump victory in the upcoming …
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The GBP/USD exchange rate has retreated below the 1.3100 mark, driven by waning expectations of a substantial interest rate cut by the Federal Reserve. This downward trend is gaining momentum, with technical indicators suggesting further declines.The GBP/USD exchange rate is currently in a downward spiral. While there is a possibility …
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The Pound Sterling managed to recoup some losses against the US Dollar on Friday, buoyed by a significantly weaker-than-expected US Nonfarm Payrolls (NFP) report. The data revealed a sharp slowdown in job growth, casting doubt on the resilience of the US economy and prompting a broad-based decline in the dollar.Despite …
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The GBP/USD pair consolidates between 1.2800 and 1.2890 amid uncertain Fed and BoE decisions. RSI remains flat, indicating a balanced market with no clear trend. Key support levels are at 1.2778 and 1.2750, with resistance at 1.2888 and 1.2900.The Pound Sterling registers minuscule gains during the North American session as …
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As expected, UK inflation continues to fall following the release of economic data on Wednesday. This data pushed the pound sterling above 1.2700. However, steady growth in the UK services sector may lead the Bank of England to hold interest rates steady at its meeting today, June 20. Disappointing retail …
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Bitcoin closed on an upward trajectory, driven by news of collaboration between Argentina’s Securities and Exchange Commission and El Salvador. The two countries are exploring further adoption of cryptocurrencies. BTC’s global spread closed at $69,528 per unit, slightly higher than the previous day’s closing price of $68,489. However, the larger-cap …
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The looming CPI data for April 2024 is practically intriguing and warrants close analysis. Its potential impact on major currency performance in the forex market is significant. In this report, we will look closely into the background of this crucial inflation data and explore its implications for currency price action, …
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During the North American session, the British Pound registered modest gains versus the US Dollar. The Bank of England (BoE) will decide on monetary policy in a week. An upbeat market sentiment underpins the GBP/USD’s higher trading at around 1.2579, above a key support level. The GBP/USD is neutral to …
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The major central banks’ monetary policy announcements cause the pound sterling to plunge sharply against the US dollar, hitting a new low that hasn’t been seen in two weeks. The market took a wrong turn on Thursday after the Bank of England became more dovish. As of this writing, the …
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The US Dollar continued its recent strength, pushing the USD Index (DXY) above 104.00 earlier on Tuesday, though the gain was short-lived and it was last seen at 103.871. All eyes are now focusing on the Federal Reserve’s interest rate decision later Wednesday, along with their economic projections and Chair …
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