Pound Sterling Price News and Forecast: GBP/USD dips to 1.2881, marking third day of losses

Google News GBP/USD Price Analysis: Drops below 1.2900 amid strong US data

The Pound Sterling dropped below 1.2900 for the third consecutive day, edged lower 0.17%, and traded at 1.2881 after hitting a daily high of 1.2913. Data from the UK wasn’t better than expected, while an outstanding growth report from the US bolstered the Greenback.

From a technical standpoint, the GBP/USD continues to edge lower, though sellers are encountering tough times clearing the June 12 peak at 1.2860, which turned support once cleared. Read more…

Google News Pound Sterling falls on robust US Q2 GDP growth, firm BoE rate-cut bets

The Pound Sterling (GBP) exhibits a poor performance against its major peers, except the Australian Dollar (AUD) and the New Zealand Dollar (NZD), on Thursday. The British currency has faced significant pressure as market experts see the Bank of England (BoE) pivoting to policy normalization in August.

A Reuters poll conducted July 18-24 showed that more than 80% of economists said the BoE will reduce its key borrowing rates by 25 basis points (bps) to 5% in the August meeting. However, the prediction of a rate-cut in June’s poll was higher, with 97% of respondents favoring a rate-cut move. Contrary to Reuters’ poll, market participants are only pricing in a 45% chance for rate cuts in August. Read more…

Google News GBP/USD: Trades lower towards 1.2850 – UOB Group

The Pound Sterling (GBP) is likely to consolidate between 1.2850 and 1.3020 for the time being, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. Read more…

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.