Pound Sterling Price News and Forecast: GBP/USD plummets below 1.2700

The Pound Sterling (GBP) drops sharply late in the New York session vs. the US Dollar (USD) and exchanges hands below the 1.2700 figure on Thursday, losing 0.85%. Federal Reserve officials hawkish stance, alongside weak economic data in the United Kingdom (UK), sponsored the GBP/USD fall, which trades at 1.2615 after hitting a high of 1.2728. Read More…

The Pound Sterling (GBP) witnessed a breakdown of the consolidation formed above 1.2700 as bullish market sentiment failed to neutralize the impact of vulnerable British PMIs reported by S&P Global on Wednesday. The agency reported that factory activities were at their lowest since the pandemic period as firms underutilized their operating capacity due to a bleak demand outlook. Read More…

Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group note GBP/USD is now expected to navigate between 1.2580 and 1.2780 in the next few weeks. Read More…