TD Securities forecasts a narrow Bank of England rate cut soon but warns sterling will likely remain weak. A cautious MPC and stubborn inflation signals suggest gradual easing, keeping GBP under pressure compared to other major currencies. Markets should brace for volatility ahead.
TD Securities anticipates a narrowly split BoE decision on rate cuts soon, reflecting cautious but growing dovishness amid softening UK growth and stubborn inflation. They warn sterling faces persistent weakness as market focus shifts to timing of easing and relative yield pressures against the dollar and euro. Report via InvestingLive.com.
Pound-to-US Dollar exchange rates remain volatile as markets look ahead to the Bank of England’s next policy decision. With uncertainty over the timing of rate cuts and economic outlook, BoE guidance will be key in setting the tone for GBP/USD in the weeks to come. Investors should watch carefully for any shifts in tone or data updates.
GBP/USD decline has paused near key support around 1.2300 ahead of the Bank of England meeting. With mixed UK data and persistent US dollar strength, traders face a delicate balance as the BoE signals potential policy shifts. Watch for breaks below support or rebounds toward 1.2400 as the BoE decision approaches.
Analysis by Fawad Razaqzada, FOREX.com
The US dollar maintains its strength following a rare mix of surprisingly weak data releases, including a notable ISM services PMI drop and solid payroll growth. This contrasting data shapes expectations for fewer Fed rate cuts in 2024, keeping the dollar dominant against the euro, pound, and yen as markets await July inflation and employment reports.
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The GBP/USD pair continues to bleed losses, breaking key support levels amid weak UK economic data and a strengthening US dollar. Technical indicators show bearish momentum with the pair trading below major moving averages. Watch for support near 1.2200 as risk-off sentiment and monetary policy divergence weigh on sterling. Full analysis via Economies.com.
GBP/USD continues to bleed losses amid strong US economic data, UK monetary policy uncertainty, and global geopolitical tensions. Technical indicators show bearish momentum with key supports breaking down. Traders should watch the 1.2070 level for the next major test as risks remain tilted to the downside. #Forex #GBPUSD #MarketAnalysis
GBP/USD continues its downtrend as the British pound weakens against a resilient US dollar. Technical indicators show strong bearish momentum with key supports at 1.2050 and 1.2000 in focus. Dovish Bank of England signals and weak UK data add pressure, suggesting further losses ahead. Source: economies.com
GBP/USD continues to bleed losses amid tightening Fed policy and cautious BoE stance. Technicals show persistent downtrend with key support at 1.2100 under pressure. Oversold RSI signals potential short-term pause, but broader bearish momentum remains intact. Traders should watch for breaks below 1.2000. #Forex #GBPUSD
