The Pound Sterling (GBP) advances to near the psychological resistance of 1.2500 against the US Dollar (USD) in Thursday’s London session.
The Pound Sterling rises to 1.2500 on multiple tailwinds. BoE Governor Andrew Bailey expects a sharp drop in April’s inflation. The US Dollar remains under pressure ahead of US Q1 GDP and core PCE Inflation data. The Pound Sterling advances to near the psychological resistance of 1.2500 against the US Dollar in Thursday’s London session. The GBP/USD pair capitalizes on expectations of an improvement in the United Kingdom’s economic outlook and a decline in the US Dollar.
For more clarity over Fed’s rate-cut timing, investors will wait for the core PCE inflation data for March, to be published on Friday. The underlying inflation data is estimated to have grown steadily by 0.3% on month, with annual figures softening to 2.6% from the 2.8% recorded in February. Technical Analysis: Pound Sterling climbs to 1.2500 The Pound Sterling extends its recovery to the crucial resistance of 1.2500 against the US Dollar.
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