The pound is experiencing a notable period of activity. GBP/USD is trading near 1.3431 on Friday, extending a recovery to fresh one-year highs as sterling continues to outperform while the dollar loses some of its defensive appeal. The pair has risen for a third consecutive session, surpassing 1.34 after a brief dip below 1.3350 earlier … Read more
GBP/USD is currently positioned above 1.3400 on Thursday, exchanging at approximately 1.3415 during the early hours of European trading, maintaining a positive outlook as it continues to capitalise on the gains observed on Wednesday. That level is of paramount importance on the chart: 1.3400 represents the position of the 200-day moving average, which has consistently … Read more
GBP/USD demonstrated its resilience on Wednesday. While the euro was pulled down to its 1.1400 critical support level due to the Iran shock, cable managed to rise above 1.3450 during the European session, as the renewed tensions in the Middle East did not provide any impetus for the U.S. dollar. Trump declared the Iran ceasefire … Read more
Attacks on ships in the Hormuz Strait have resulted in an increase in oil prices, thereby bolstering demand for the US dollar. The NY Fed survey indicates that households anticipate an increase in inflation. Burnham’s fiscal pledge constrains the potential for intensified political pressure on Sterling. The Pound Sterling retreats against the US Dollar on … Read more
GBP/USD eases below 1.3350 on Monday, following a seven-day rally. Recent tensions in the Strait of Hormuz have negatively impacted market sentiment during what was otherwise a tranquil beginning to the week. The pair continues to trade within a descending channel. The British Pound ticks lower against the US Dollar Monday, attempting to close a … Read more
GBP/USD is trading near $1.3377 as the July 4 weekend approaches, reflecting an increase of approximately 0.7% for the day and reaching a two-week high following the release of a disappointing US jobs report that prompted significant selling of the dollar. That appears to be a remarkable victory. It primarily reflects a depreciation of the … Read more
NFP falls short of expectations, with significant downward revisions to previous months. Expectations for Fed tightening have diminished as yields exert pressure on the US Dollar. Political uncertainty and speculation regarding intervention contribute to heightened volatility in Cable. The Pound Sterling registers solid gains against the US Dollar on Thursday following the latest US employment … Read more
GBP/USD commenced the third quarter hovering around the $1.325 mark, positioned close to a seven-month low following a 1.4% decline against the dollar in June. The pound retreated from a nearly two-week peak near 1.3275 reached in the previous session, declining towards 1.3235 as the dollar strengthened and the Bank of England’s dovish stance continued … Read more
GBP/USD has softened to approximately 1.3240 during the Asian session on Tuesday. The US ADP employment data and the US NFP report are set to attract significant attention later this week. Economists anticipate that the BoE will maintain its benchmark interest rate at 3.75% until the conclusion of the year. The GBP/USD pair experiences a … Read more
GBP/USD declines as uncertainty regarding tensions in the Middle East escalates. Hostilities in the Gulf have ceased, paving the way for the resumption of discussions regarding the Strait of Hormuz after a series of retaliatory strikes. British politician Andy Burnham is set to present his national vision on Monday. GBP/USD experiences a slight decline following … Read more