The Pound Sterling (GBP) extended its downside momentum against the US Dollar (USD), dragging GBP/USD below the 1.2700 mark before buyers jumped back in the game toward the end of the week.
The Pound Sterling extended its losing streak to reach five-week lows against the US Dollar. GBP/USD braces for top-tier UK and US inflation data in the upcoming week. The outlook remains for an extended Pound Sterling recovery while the 200-day SMA holds. The Pound Sterling extended its downside momentum against the US Dollar , dragging GBP/USD below the 1.2700 mark before buyers jumped back in the game toward the end of the week.
On Thursday, the UK preliminary Gross Domestic Product report for the second quarter will be published alongside the monthly print and the Manufacturing Production data. The US calendar will feature the Retail Sales report, the usual weekly Jobless Claims and the Industrial Production data, on the same day. The UK Retail Sales data and the US University of Michigan preliminary Consumer Sentiment and Inflation Expectations data on Friday will wrap up an action-packed week.
Currencies Majors Technical Analysis
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 Forecast: Pound Sterling awaits high-impact UK data for further upsideThe Pound Sterling (GBP) extended its two-week uptrend against the US Dollar (USD), as the GBP/USD pair clinched fresh 2024 highs.
Read more »
GBP/USD Forecast: Pound Sterling pullback to pave the way for fresh uptrendThe Pound Sterling (GBP) recorded a fresh 12-month high above 1.3000 against the US Dollar (USD) but the GBP/USD pair snapped its two consecutive weekly gains to settle in the red.
Read more »
GBP/USD Forecast: Pound Sterling to focus on Fed-BoE policy divergenceThe Pound Sterling (GBP) stretched its corrective downside from yearly highs against the US Dollar (USD), sending GBP/USD back under 1.2900 – the lowest level in over a week.
Read more »
GBP/USD Forecast: Pound Sterling could rally with a BoE holdAfter posting small gains on Wednesday, GBP/USD came under renewed bearish pressure and fell to its weakest level in three weeks below 1.2800 in the European morning on Thursday.
Read more »
GBP/USD Forecast: Pound Sterling is not out of the woods yetRecording a third consecutive weekly decline, the Pound Sterling (GBP) reached its lowest level in a month against the US Dollar (USD), leaving GBP/USD to battle the 1.2700 threshold.
Read more »
British Pound (GBP/USD) Latest - Cable Under Pressure as Gilt Yields SlideShort-dated UK government bond yields are testing lows last seen in late March as investors see interest rate cuts looming on the horizon
Read more »