The Pound Sterling (GBP) trades lower against the US Dollar (USD) below the psychological resistance of 1.3000 in Friday’s London session.
The Pound Sterling ticks down on Friday against the US Dollar after moving higher on Thursday. The BoE signaled it would follow a more gradual rate-cut path. Both the Fed and the BoE cut interest rates by 25 bps on Thursday. The Pound Sterling trades lower against the US Dollar below the psychological resistance of 1.3000 in Friday’s London session. The GBP/USD weakens slightly as the US Dollar strives to gain ground after a sharp correction on Thursday.
Going forward, investors will focus on BoE Chief Economist Huw Pill’s speech at 12:15 GMT for fresh interest rate guidance and the employment data for the three months ending September, which will be published on Tuesday. Technical Analysis: Pound Sterling remains on tenterhooks below 1.3000 The Pound Sterling trades at make or a break against the US Dollar near the breakdown region of a Rising Channel pattern, just below 1.3000 on Friday, after rebounding from a fresh 11-week low near 1.
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