GBP/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.
GBP/USD lurched into a fresh 29-month peak as the US Dollar recedes. Markets continue to tilt into a risk-on stance as Fed rate cut hopes continue. UK economic data releases remain thin this week, US PCE inflation looms on Friday. Investors have piled into hopes for a September rate cut from the Fed eral Reserve , and US Personal Consumption Expenditure Price Index inflation figures not due until Friday leave markets with little meaningful data to chew on until then.
Bidders should be cautious of an overbought snap back into the low side, but with price action trading well north of the 50-day Exponential Moving Average at 1.2876, it would take a significant drop in value before signs of a bearish trend change even begin to form on the charts. GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom.
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