The Pound Sterling (GBP) fell for the third consecutive week against the US Dollar (USD), as the GBP/USD pair tested levels below the 1.3000 round level for the first time since mid-August before staging a late recovery.
The Pound Sterling hit two-month lows against the US Dollar, then rebounded. GBP/USD looks to S&P Global PMIs and Bailey’s speeches for fresh trading impetus. Technically, any Pound Sterling upswings could be short-lived as long as the daily RSI stays bearish. The Pound Sterling fell for the third consecutive week against the US Dollar , as the GBP/USD pair tested levels below the 1.3000 round level for the first time since mid-August before staging a late recovery.
Thursday will feature the S&P Global preliminary Purchasing Managers Index data for October from the US and the UK. The US Jobless Claims data will also be published on the same day. The BoE hawk Monetary Policy Committee member Catherine Mann is due to speak after Cleveland Fed President Beth Hammack’s speech. The mid-tier US Durable Goods Orders data for September will be released on Friday, making it a quiet calendar heading into Saturday’s speech by BoE Governor Bailey.
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