GBP/USD extended a near-term recovery rally to wrap up the trading week, inching back in a familiar congestion zone and clawing back meager gains from the midweek’s backslide into the 1.3000 handle.
GBP/USD found the gas for a thin rally on Friday. Upbeat UK Retail Sales figures helped the Pound find its footing. A broad-market pivot out of the Greenback further aided Dollar pairs. The Pound Sterling was bolstered by better-than-expected UK Retail Sales figures, with gains further buoyed by a broad-market easing in Greenback bidding. UK Retail Sales bounced 0.3% in September, falling back from August’s 1.0% but still sticking well above the expected -0.3% contraction.
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. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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 Rally Targets 1.41 as Dovish Fed, Hawkish BoE Add Bullish FuelForex Analysis by Investing.com (Damian Nowiszewski) covering: GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
GBP/USD breaches fresh 31-month high as Pound rally continuesGBP/USD clipped another multi-year peak on Thursday, hitting a 31-month high bid 1.3434 as Cable gets pushed into the high end by broad-market Greenback selling.
Read more »
GBP/USD Price Forecast: Upbeat UK data fuels rally, stalls at 1.3050The Pound Sterling resumed its uptrend after hitting a weekly low of 1.2974 on Wednesday.
Read more »
GBP/USD: Expected to trade in a 1.2985/1.3050 rangeThe Pound Sterling (GBP) is expected to trade in a 1.2985/1.3050 range.
Read more »
GBP/USD halts the slide for nowGBP/USD managed to plug the leaks and stop its most recent backslide, but potential for a bullish rebound remains tepid at best.
Read more »
GBP/USD ticks higher to 1.3025 area on softer USD, BoE rate-cut bets cap gainsThe GBP/USD pair attracts some follow-through buying during the Asian session on Friday and looks to build on the overnight bounce from the 1.2975-1.2970 region, or a two-month low.
Read more »