Pound Sterling Price News and Forecast: GBP/USD plunges but stays afloat above 1.2900

GBP/USD plunged after the release of inflation figures in the United Kingdom (UK), extending its losses during the North American session, briefly touching the 20-day EMA below the 1.2900 figure. Still, soft US economic data triggered a recovery above the latter. The GBP/USD trades at 1.2914, losses 0.93%. Read More…

The Pound Sterling (GBP) attracts significant offers as the United Kingdom’s June inflation report has turned out much softer than expected. The GBP/USD pair slipped swiftly below the psychological support of 1.3000 after the data release, and it is expected to deliver more weakness. The monthly headline Consumer Price Index (CPI) expanded at a negligible pace of 0.1% in June as households and firms face the burden of higher interest rates from the Bank of England (BoE). Read More…

The upside momentum in GBP/USD is expected to mitigate below the 1.3000 yardsticks, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…