GBP/USD Forecast: Pound Sterling clings to bullish stance to start week
GBP/USD stays in a consolidation phase above 1.3500 after rising more than 0.5% on Friday. The pair remains technically bullish in the short term.
Growing expectations for multiple Federal Reserve (Fed) rate cuts following the disappointing August labor market data weighed heavily on the US Dollar (USD) heading into the weekend. Read more…
GBP/USD Weekly Forecast: Focus remains on stagflation and the BoE
In quite turbulent past few days for the Pound Sterling, GBP/USD eventually managed to close the week with decent gains above the key 1.3500 figure, reversing at the same time two weekly retracements in a row.
While the cautious stance from the Bank of England (BoE) continues to lend some cushion to the currency, speculation that a potential stagflationary scenario could be brewing raised extra concerns among market participants and seems to keep occasional bullish attempts contained. Read more…