Pound Sterling falls back as BoE rate cut hopes deepen

The Pound Sterling (GBP) faces pressure near 1.2650 against the US Dollar in Tuesday’s early American session as the latter rebounds. The GBP/USD pair exhibits falls as investors expect that the Bank of England (BoE) will be more dovish this year than previously anticipated, driven by lower-than-anticipated inflation data in January and February. Read More…

GBP/USD attempts to continue gaining ground, advancing to near 1.2640 during the Asian trading hours on Tuesday. The pair could meet the immediate resistance at 23.6% Fibonacci retracement and a major level at 1.2650. Read More…

The GBP/USD pair trades with a mild positive bias during the Asian session on Tuesday, albeit lacks follow-through buying and remains below mid-1.2600s, or the overnight swing high. The fundamental backdrop, meanwhile, favours bearish traders and warrants some caution before positioning for an extension of the recent bounce from the 1.2475 area, or a five-week low touched last Friday. Read More…