Pound Sterling Price News and Forecast: GBP/USD soars past 1.2500 on soft US manufacturing data

GBP/USD edges higher in the North American session, boosted by downbeat economic data from the United States (US), with business activity slowing. Additionally, US Federal Reserve (Fed) officials pushing for a “skip” on its tightening cycle eased the odds for a rate hike at the upcoming June meeting. The GBP/USD is trading at around 1.2510s after hitting a low of 1.2400. Read More…

The GBP/USD pair reverses an intraday dip to the 1.2400 round-figure mark and turns positive for the fifth successive day on Thursday. Spot prices, however, retreat a few pips from a two-week high touched during the early North American session and trade around mid-1.2400s following the release of the US ADP report. Read More…

The GBP/USD pair continues with its struggle to move back above the 50-day Simple Moving Average (SMA) and attracts some sellers near the 1.2450 area, or over a one-week high touched earlier this Thursday. The pair drops to a fresh daily low, around the 1.2415-1.2410 region during the early part of the European session and for now, seems to have snapped a four-day winning streak. Read More…