Pound Sterling slumps against US Dollar as traders pare Fed dovish bets
The Pound Sterling (GBP) slides to near 1.3200 against the US Dollar (USD) during the European trading session on Thursday, extending its losing streak for the sixth trading day. The GBP/USD pair faces selling pressure as the US Dollar trades firmly, with the US Dollar Index (DXY), holding onto gains near a fresh two-month high around 100.00 posted on Wednesday. Read more…
GBP/USD steadily climbs above mid-1.3200s amid a softer USD; bulls lack conviction
The GBP/USD pair attracts some buyers during the Asian session on Thursday and reverses a part of the previous day’s decline to the lowest level since May 13. Spot prices currently trade just above mid-1.3200s, though the fundamental backdrop warrants some caution before positioning for any meaningful recovery. Read more…
GBP/USD: Any decline is likely part of a lower range of 1.3210/1.3310 – UOB Group
There is room for Pound Sterling (GBP) to weaken further; any decline is likely part of a lower range of 1.3210/1.3310. In the longer run, strong downward momentum continues to suggest GBP weakness; the next level to monitor is May’s low of 1.3140, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more…
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.