{"id":80227,"date":"2023-02-20T19:33:28","date_gmt":"2023-02-20T15:33:28","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=80227"},"modified":"2023-02-20T19:34:40","modified_gmt":"2023-02-20T15:34:40","slug":"gbp-usd-recovered-with-little-hope-to-stage-a-sustainable-rise","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gbp-usd-recovered-with-little-hope-to-stage-a-sustainable-rise\/02\/20\/market-updates\/","title":{"rendered":"GBP\/USD recovered, with little hope to stage a sustainable rise."},"content":{"rendered":"\n<p>The British Pound fought back from below 1.20\/USD and the 200-DMA (1.1938) on Friday but conviction for a return to 1.2450 is low based on the outlook for a widening in US\/UK rate differentials. Based on implied market rates, the Fed\/BoE spread could widen to almost 100 bps in 2Q, keeping GBP\/USD in check. At the time of writing, the pair is trading at 1.2032 versus the previous closing at 1.20392.<br><br>The PMI reading for February is the pick of the UK data calendar tomorrow. We forecast a modest improvement to 49.2. This may not be enough to lift GBP\/USD with investors instead bracing for the FOMC minutes and US PCE inflation.<br><br>The Sterling has underperformed a solid majority of its most directly comparable peers but despite this GBP\/CAD has appeared to dig its heels in when near the round number of 1.61, which coincides closely with a Fibonacci support level and a 100-day moving average. The pair is trading at 1.6184 at the time of writing versus the previous closing at 1.62135.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Pound fought back from below 1.20\/USD and the 200-DMA (1.1938) on Friday but conviction for a return to 1.2450 is low based on the outlook for a widening in US\/UK rate differentials. Based on implied market rates, the Fed\/BoE spread could widen to almost 100 bps in 2Q, keeping GBP\/USD in check. At &hellip;<\/p>\n","protected":false},"author":13,"featured_media":54454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[10214,7034],"class_list":["post-80227","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gbp-cad","tag-gbp-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80227"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80227\/revisions"}],"predecessor-version":[{"id":80259,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80227\/revisions\/80259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54454"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}