The Pound Sterling (GBP) remains on the back foot in Monday’s London session as investors continue to price in the Bank of England (BoE) will pivot to interest-rate cuts earlier than the US Federal Reserve (Fed).
The Pound Sterling faces selling pressure as the soft inflation outlook prompts BoE rate cut prospects. Weak UK Retail Sales also contribute to a softer inflation outlook. Fed ’s higher for longer interest-rates argument strengthens the US Dollar. The Pound Sterling remains on the back foot in Monday’s London session as investors continue to price in the Bank of England will pivot to interest-rate cuts earlier than the US Fed eral Reserve .
1. Technical Analysis: Pound Sterling dips below 1.2400 The Pound Sterling resumes its downside journey after failing to recapture the crucial resistance of 1.2400. The GBP/USD pair weakens after a breakdown of the Head and Shoulder chart pattern, whose neckline is plotted from the December 8 low around 1.2500. Declining 20-day and 50-day Exponential Moving Averages at 1.2525 and 1.2600, respectively, indicate that the long-term outlook is bearish.
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.
Pound Sterling drops on risk-off mood, firm BoE rate cut projectionsThe Pound Sterling (GBP) falls to near 1.2600 in Wednesday’s early American session.
Read more »
Pound Sterling edges down on dismal sentiment, BoE rate cut prospectsThe Pound Sterling (GBP) drops to 1.2600 against the US Dollar in Thursday’s European session.
Read more »
Pound Sterling Under Pressure on BoE Rate Cut ExpectationsThe Pound Sterling is slightly under pressure on firm BoE rate cut expectations. Diminished speculation for the Fed pivoting to rate cuts in June provides support to the US Dollar. This week, the US Inflation data will significantly impact Fed rate cut expectations.
Read more »
Pound Sterling edges higher amid rising speculation of BoE delaying rate cutsThe Pound Sterling (GBP) extends its upside to 1.2480 in Thursday’s European session.
Read more »
Pound Sterling Latest: BoE Inflation Nod Hampers GBP RecoveryThe pound struggles to recover against the dollar after fairly mixed data this week was met with a dovish inflation assessment by Andrew Bailey
Read more »
Pound Sterling remains vulnerable as UK shop price inflation softens furtherThe Pound Sterling (GBP) trades in a narrow range near a six-week low around 1.2540 in Tuesday’s London session.
Read more »