GBP/USD clings to bullish stance

GBP/USD Forecast: Pound Sterling clings to bullish stance

GBP/USD registered small losses on Friday but managed to end the second consecutive week in positive territory. The pair holds its ground early Monday and trades above 1.3400.

The selling pressure surrounding the US Dollar (USD) at the beginning of the new week helps GBP/USD stretch higher. The data published by the US Bureau of Economic Analysis showed on Friday that the core Personal Consumption Expenditures (PCE) Price Index rose 0.1% on a monthly basis in August, at a softer pace than the market expectation of 0.2%. Read more

GBP/USD Weekly Forecast: Pound Sterling poised for more upside in the Nonfarm Payrolls week

The Pound Sterling (GBP) secured three consecutive months of gains against the US Dollar (USD) in the past week as the GBP/USD pair recaptured the 1.3400 threshold to stay at the highest level since March 2022.

GBP/USD entered a bullish consolidation phase between 1.3435 and 1.3250, sitting at fresh 30-month highs as the monetary policy divergence between the Bank of England (BoE) and the US Federal Reserve (Fed) continued to support the Pound Sterling at the expense of the Greenback. Read more…