GBP/USD slips below 1.3000 on risk aversion

The Pound Sterling is losing some ground against the Greenback. Increasing tensions in the Middle East are spurring a risk-off environment despite China’s efforts to propel its economy. At the time of writing, the GBP/USD trades at 1.2997, down 0.38%. Read More…

The Pound Sterling (GBP) weakens against its major peers at the start of the week. The British currency, which has suffered in the past weeks on the broad assessment that the Bank of England (BoE) will cut interest rates aggressively, could now be facing a different scenario after the release of strong United Kingdom (UK) Retail Sales data for September. Read More…

The GBP/USD pair struggles to capitalize on a two-day-old recovery move from the 1.2975 area, or a nearly two-month trough touched last Thursday and kicks off the new week on a softer note. Spot prices currently trade just below mid-1.3000s and seem vulnerable to prolonging the recent pullback from the 1.3435 region, or the highest level since March 2022. Read More…