The Pound Sterling (GBP) trades slightly higher against its major peers in Tuesday’s London session after the release of the mixed United Kingdom (UK) Employment report for the three months ending in July.
The Pound Sterling adds nominal gains against the US Dollar after the release of mixed UK labor market data. An expected decline in the UK wage growth would prompt BoE interest rate cut prospects for this month. Investors await the US inflation data for fresh guidance on the Fed interest rate cut path. The Pound Sterling trades slightly higher against its major peers in Tuesday’s London session after the release of the mixed United Kingdom Employment report for the three months ending in July.
3100 The Pound Sterling trades in a tight range and remainsvulnerable nearthe round-level resistance of 1.3100 against the US Dollar. The GBP/USD pair is at a make or a break as it hovers near the trendline plotted from the December 28, 2023, high of 1.2828. On August 21, the Cable delivered a sharp upside move after a breakout of the trendline mentioned above. The pair has found an intermediate cushion near the 20-day Exponential Moving Average , which trades around 1.3075.
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