The Pound Sterling (GBP) registered modest gains on Monday, following a mixed US jobs report, while the Bank of England (BoE) decided to hike rates to a 15-year high. The GBP/USD is trading at 1.2769 after hitting a daily low of 1.2712. Read More…
The Pound Sterling (GBP) senses an intermediate cushion after a sell-off move from the crucial resistance of 1.2800 as higher interest rates by the Bank of England (BoE) started deepening recession fears. Earlier, the GBP/USD pair drops significantly as higher interest rates are threatening the United Kingdom’s economic outlook. The UK’s strong labor market is loosening its resilience as firms slow down their hiring process amid bleak economic prospects. Read More…
GBP/USD still risks a potential drop to the 1.2580 region in the short-term horizon, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-gathers-momentum-on-mixed-us-labor-market-data-202308071856