Pound Sterling Price News and Forecast: GBP/USD softens below 1.3150, US PMI data looms

GBP/USD softens below 1.3150, US PMI data looms

The GBP/USD pair trades on a weaker note near 1.3125 during the early European session on Tuesday. The sell-off of the major pair is dragged lower by the firmer US Dollar (USD) ahead of the key US economic data. The Bank of England (BoE) Deputy Governor Sarah Breeden is set to speak later on Tuesday, followed by the release of the US ISM Manufacturing Purchasing Managers Index (PMI). Read more…

GBP/USD found thin gains on quiet Monday

GBP/USD turned into the midrange on Monday, plagued by a thin economic calendar on the UK side and shuttered US markets for the Labor day holiday. Despite a middling open to the trading week, Cable looks poised to continue a near-term pullback, assuming markets aren’t thrown into a tailspin by US jobs figures due later in the week. Read more…

Pound Sterling holds steady above support ahead of volatile week

The British Pound (GBP) holds on to marginal gains during the European trading session on Monday, with US markets closed in observance of Labor Day. This means very slim volumes, even thinner than on a typical Monday. However, the UK market already had to digest the S&P Global/CIPS Purchasing Managers Index (PMI) for the manufacturing sector this morning, which fell in line as expected at 52.5. Read more…