GBP/USD finds a cushion around 1.2200, downside seems favored as spotlight shifts to US NFP.

GBP/USD has attempted to build a cushion around 1.2200 after a perpendicular sell-off. Investors are dumping the risk-perceived assets as anxiety among investors is soaring ahead of the US NFP data.. The GBP/USD pair has sensed a pause in its vertical downside journey to near the round-level support of 1.2200 in the Tokyo session. TheContinue reading “GBP/USD finds a cushion around 1.2200, downside seems favored as spotlight shifts to US NFP.”

GBP/USD plummets below 1.2300 post-BoE’s decision, US data.

GBP/USD dropped after the Bank of England lifted rates and gave no signals for further increases.The BoE foresees a shallow recession in the UK and expects inflation at around 4% by year’s end. US labor market data portrays the tightness of the job markets, with traders eyeing Friday’s Nonfarm Payrolls report. The GBP/USD collapses afterContinue reading “GBP/USD plummets below 1.2300 post-BoE’s decision, US data.”

GBP/USD to simmer a break past the 1.2445/47 highs of December.

GBP/USD may hold below 1.2447 for now, but analysts at Credit Suisse look for an eventual break higher. Only below the 1.1841 January low would be seen to mark a decisive reversal lower “GBP/USD is still capped below the 1.2445/47 highs of December. We see scope for further consolidation beneath here.”“Big picture, we look forContinue reading “GBP/USD to simmer a break past the 1.2445/47 highs of December.”

GBP/USD plunged below 1.2300 post US data amidst a buoyant USD.

The Pound Sterling continued to soften vs. the US Dollar ahead of the Fed’s decision. US inflation continues to grind lower as the Employment Cost Index drops. The International Monetary Fund expects the UK economy to hit a recession in 2023.The Pound Sterling (GBP) extended its losses to three straight days against the US DollarContinue reading “GBP/USD plunged below 1.2300 post US data amidst a buoyant USD.”