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Multiple hurdles, US data prod Cable buyers above 1.2700
Read Time: 2 minutes[responsivevoice_button rate=”1.1″ pitch=”1.1″ volume=”2″ voice=”UK English Female” buttontext=”Play”] GBP/USD stays defensive around 1.2715-20 during the early hours of Thursday’s Asian session, fading the previous day’s rebound from the lowest level in eight weeks amid the market’s anxiety ahead of the top-tier data/events. The Cable pair bounced off the 100-DMA and once again…
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Protected: GBP/USD forecast to edge back to 1.26 on a 3-month view |Views|
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GBP/USD Forecast: Pound Sterling could struggle to find direction ahead of key UK data
Read Time: 2 minutesGBP/USD edged lower in the Asian session on Monday but managed to recover to the 1.2700 in the European morning. Investors could refrain from taking large positions ahead of the UK labor market and inflation data due for release on Tuesday and Wednesday, respectively. The negative shift witnessed in risk sentiment on concerning…
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Pound Sterling refreshes six-week low amid sour market mood
Read Time: 4 minutesThe Pound Sterling (GBP) weakens despite upbeat Q2 Gross Domestic Product (GDP) and factory data for June. The GBP/USD pair faces headwinds from bearish market sentiment ahead of the British employment data, which will be released on Tuesday at 6:00 GMT. Stellar recovery in United Kingdom’s Q2 GDP data makes Bank of…
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British Pound Price Action Setups: GBP/USD Descending Channel Guides Sterling Lower
Read Time: 2 minutesThe British Pound weakened about -0.4 percent against the US Dollar last week. At 4 consecutive weeks of losses, this has been the worst losing streak for GBP/USD since May 2022. A 5th would mean the worst since December 2018. Taking a look at the daily chart below, GBP/USD has confirmed a breakout under the…
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GBP/USD Downtrend Still Remains in Play
Read Time: 2 minutesThe British Pound has been stabilizing against the US Dollar in recent days. In this technical update, we will take a look at how the broader trend is meshing with the near-term trajectory to develop a cohesive picture of Sterling. On the daily setting, GBP/USD has confirmed a breakout under the long-term rising trendline from…
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GBP/USD: Still scope for further downside
Read Time: < 1 minuteGBP/USD still risks a potential drop to the 1.2580 region in the short-term Horizon. Key Quotes 24-hour view: After GBP plummeted to 1.2620 and rebounded, we indicated last Friday that “Downward momentum has slowed, and this combined with still overbought conditions, suggests GBP is unlikely to weaken further.” We expected GBP…
