The GPB/USD is subdued during the North American session on Friday following a positive UK GDP report, yet an uptick in the Fed’s preferred gauge of inflation, the PCE Price Index, capped the major, which trades at 1.2642, virtually unchanged.
GBP/USD steady following a positive UK GDP report and rising US PCE Index. Technicals cap pair below 1.2700, key for buyer momentum. Strong support at 1.2634/45 ; RSI suggests seller dominance, risk of more losses. GBP/USD Price Analysis: Technical outlook After bouncing off the weekly lows reached on Wednesday, the GBP/USD capped its losses and remained below the 12700 psychological figures, a crucial level for buyers to regain control.
How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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