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…
