GBP/USD skids to a halt with plenty of central bank talk in the barrel
GBP/USD held steady on Tuesday, testing the waters near the 1.3000 handle. Intraday price action tested a fresh nine-week low, and topside bidding failed to make a mark above 1.3000, keeping near-term momentum hobbled in a midrange just below the key handle.
Bank of England (BoE) Governor Andrew Bailey made his first of four appearances on the docket this week. BoE’s Bailey mostly stuck to the middle of recent scripts, though the BoE head did note some regret at the BoE’s complacency regarding recent financial stability risks. Read more…
GBP/USD Price Forecast: Dives below 1.3000 and tests 100-DMA
The Pound Sterling extended its losses against the US Dollar for two straight days, with sellers clearing the 1.3000 figure decisively, which could pave the way for further downside. At the time of writing, the GBP/USD trades at 1.2961, fluctuating around the 100-day moving average (DMA), down 0.15%.
The GBP/USD is testing the 100-DMA for the first time since early August 2024. Although the pair hit a daily low of 1.2944, sellers lacked the strength to push the spot price toward the bottom trendline of an ascending channel. Read more…
