About 9.5% of daily trades. Referred to as “Cable,” it’s volatile but widely traded due to the strength of the UK and U.S. economies
GBP/USD remains subdued below 1.2800 amid continuing US dollar strength. Robust US economic data, resilient Treasury yields, and global risk aversion sustain greenback demand, limiting sterling’s upside. Market eyes upcoming Fed signals for further direction. #Forex #GBPUSD #USD
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The U.S. dollar advanced following stronger-than-expected ISM Services PMI data, signaling resilience in the economy and tempering expectations for Fed rate cuts. This boosted USD against the euro, pound, Canadian dollar, and yen. EUR/USD faces downside pressure amid Eurozone challenges, GBP/USD sees volatility amid mixed data, USD/CAD benefits from rising US yields, and USD/JPY tests key resistance as safe-haven flows adjust. Detailed technical and fundamental insights shed light on these currency pairs’ trajectories.
Bank of England Governor Bailey signals uncertainty on the timing and pace of rate cuts, emphasizing a data-driven approach as inflation nears target. The pound reacts by softening amid cautious market sentiment, reflecting ongoing challenges in the UK’s economic outlook and global monetary policy shifts.
SocGen highlights that GBP/USD faces crucial resistance at 1.3590. A decisive break above this level could signal a stronger bullish trend with targets near 1.3800 and 1.4000. Traders should monitor this key zone closely as it may define the pair’s direction in 2025.
Reported by ExchangeRates.org.uk
SocGen highlights a critical GBP/USD resistance at 1.3590, marking a key barrier for the Pound amid mixed UK-US economic signals and “higher-for-longer” US rates. A decisive break above this level is needed for sustained Sterling gains in 2025. Traders remain watchful of central bank policies and global risk sentiment.
GBP/USD surged sharply as UK economic indicators, including Services and Composite PMIs, exceeded expectations. Investor optimism on the UK’s economic resilience supports the Pound amid broader US Dollar weakness. Traders should watch for potential shifts in monetary policy and further market reactions ahead.
EUR/USD remains range-bound as the euro struggles to break resistance amid mixed US economic data and cautious Fed policy outlook. Market focus shifts to upcoming economic releases and central bank signals for clearer direction. Source: Mitrade News Team
EUR/USD gains amid stronger Eurozone economic data, with the euro bolstered by a revised PMI and upbeat German orders and retail sales. Meanwhile, the dollar weakens as Fed officials signal a pause on rate hikes. Investors now await US labor data for clues on the currency’s next move.
EUR/USD stays firm above 1.0800 as the US dollar eases amid softer economic data. Weaker manufacturing, employment, and consumer confidence readings in the US have prompted markets to scale back expectations of further Fed hikes. Eurozone data shows cautious resilience, supporting the euro as traders eye upcoming central bank actions and economic reports.
