The Pound Sterling (GBP) extends its winning streak for a seventh trading session against the US Dollar (USD) on Friday.
The Pound Sterling outperforms the US Dollar as Fed rate-cut bets remain firm. Investors await the speeches from Fed Powell and BoE Bailey to get fresh guidance on the US and the UK interest-rate outlook. The BoE is expected to cut interest rates gradually. The Pound Sterling extends its winning streak for a seventh trading session against the US Dollar on Friday. The GBP/USD pair trades within a touching distance of a year-to-date high of 1.
Technical Analysis: Pound Sterling aims to recapture a two-year high of 1.3140 The Pound Sterling is inch far from revisiting a more-than-two-year high of 1.3140. The GBP/USD pair moves higher in a Rising Channel chart pattern in which each pullback is considered a buying opportunity by market participants. All short-to-long Exponential Moving Average are sloping higher, suggesting that the overall trend is bullish. The 14-period Relative Strength Index oscillates in the bullish range of 60.
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