GBP/USD Forecast: Pound Sterling remains vulnerable following latest decline
GBP/USD continued to push lower and closed the second consecutive day in negative territory on Thursday. Although the pair holds comfortably above 1.2600 early Friday, the technical outlook does not yet point to a buildup of recovery momentum.
After fluctuating wildly with the immediate reaction to the Personal Consumption Expenditures (PCE) Price Index, the US Dollar (USD) Index settled higher on Thursday, supported by the souring risk mood and cautious comments from Federal Reserve (Fed) policymakers on the policy pivot. Read more…
Pound Sterling rebounds against US Dollar on firm Fed rate-cut bets for June
The Pound Sterling (GBP) rebounds in Friday’s European session after closing in negative territory on Thursday. The GBP/USD pair finds buying interest amid hopes that the Bank of England (BoE) will begin reducing interest rates after the Federal Reserve (Fed).
Investors anticipate that the BoE and the Fed will start cutting interest rates in August and June, respectively. This will ease policy divergence between the central banks for some time. The Pound Sterling would attract higher foreign inflows if the BoE maintained a hawkish stance for a longer period than other central banks. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-rebounds-against-us-dollar-on-firm-fed-rate-cut-bets-for-june-202403011248