The Pound Sterling (GBP) performs mixed against its major peers on Tuesday, struggling for direction as investors await the Bank of England (BoE) Governor Andrew Bailey’s speech, who will speak at 13:25 GMT at the Bloomberg Global Regulatory Forum in New York.
The Pound Sterling trades with caution as investors await BoE Bailey’s speech for fresh guidance on interest rates. Bailey may reiterate a dovish stance on the interest-rate outlook, signaling that more interest-rate cuts are on the way. The US Dollar outlook remains upbeat as uncertainty increases ahead of the US presidential election.
Technical Analysis: Pound Sterling trades at make or a break near 1.3000 The Pound Sterling trades close to near the psychological support of 1.3000 in European trading hours. The near-term outlook of the GBP/USD remains bearish as it hovers below the 50-day Exponential Moving Average , which trades around 1.3090. The 14-day Relative Strength Index hovers near 40.00. A breakdown through the same will strengthen the bearish momentum.
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