GBP/USD turned higher on Thursday, rising back above the 1.3100 handle after the Greenback went limp amid a broad-market uptick in risk-on market sentiment.
GBP/USD climbed back over 1.3100 after mid-week slump into 1.3000. US PPI inflation figures didn’t spark significant moves, but kept Fed rate cut hopes pinned. Market’s see an overwhelming likelihood of a quarter-point Fed cut next week. US Producer Price Index inflation data wrapped around median market estimates, failing to deliver a concise picture of US price growth factors, but still kept market expectations of an impending Fed eral Reserve rate cut keel-side down.
4% Source: US Bureau of Labor Statistics GBP/USD price forecast GBP/USD took advantage of the Greenback’s Thursday weakness, climbing back above the 1.3100 handle after dipping below the key figure earlier this week. Cable staunched the bleed in the mid-week, bounding just north of the 1.3000 round figure. Price action continues to lean firmly into the bullish side, with bids trading well above the 50-day Exponential Moving Average at 1.2970.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD tests low end amid Greenback recoveryGBP/USD softened on Tuesday, briefly testing below 1.3100 as Cable struggles to hold onto a bullish stance amid a near-term bearish pullback.
Read more »
GBP/USD scours fresh highs on Greenback weaknessGBP/USD tested into a fresh multi-year high on Tuesday, easing into a 29-month peak of 1.3266 as the Pound Sterling continues to catch a ride on a broad-market Greenback sell wave.
Read more »
GBP/USD takes a step higher as Greenback coolsGBP/USD climbed for a second straight day on Thursday, setting up for a bullish recovery despite failing to recapture the 1.3200 level.
Read more »
GBP/USD climbs for a third straight day as Greenback recedesGBP/USD rose one-third of one percent after the US Dollar continued to recede to kick off the new trading week.
Read more »
EUR/USD and GBP/USD - Latest Sentiment Analysis and PositioningAnalyse current trader sentiment and discover who is going long and short, the percentage change over time, and whether market signals are bullish or bearish.
Read more »
GBP/USD: Bears are set to test 1.3145The Pound Sterling (GBP) could weaken but does not appear to have enough momentum to break the strong support at 1.3145.
Read more »