GBP/USD pauses near 1.3150 after sustained losses, supported by resilient US Dollar strength and mixed UK economic data. Market eyes key technical support and waits for clarity from central bank signals as the pair seeks direction.
Pound Sterling slipped to 1.31 against the US Dollar amid a hawkish Federal Reserve stance. Fed signals of higher-for-longer rates strengthen the USD, while UK economic uncertainty and diverging central bank policies weigh on GBP. Market eyes key support levels as 2025 approaches. Analysis by James Skinner via ExchangeRates.org.uk
EURUSD and DXY face pivotal technical levels as November trading begins. EURUSD must break above 1.0700 and 1.0765 to confirm bullish momentum, while support near 1.0530 remains critical. Meanwhile, DXY’s trajectory will hinge on key resistance and support zones tied to US economic outlook and safe-haven flows. Traders should monitor these zones closely for directional cues.
Analysis by Justin Bennett, originally on Daily Price Action.
GBP/USD holds near 1.3130 as rising bets on a Bank of England rate cut weigh on the pound. Softer UK data and dovish BoE signals contrast with a resilient US economy, keeping the pair range-bound amid cautious market sentiment. Traders eye key support at 1.3080 and resistance near 1.3175. #Forex #GBPUSD
US Dollar edges slightly higher against Euro and Pound amid cautious risk sentiment and hawkish Fed signals. EUR/USD testing key support near 1.0670, while GBP/USD faces headwinds from UK economic uncertainty. EUR/GBP shows limited upside as ECB and BoE outlooks diverge. Traders watch key levels and data ahead of central bank decisions.
GBP/USD is showing signs of a potential move as the Bollinger Bands indicator tightens, signaling reduced volatility ahead of a breakout. Watch for a decisive close above the upper band to confirm bullish momentum or a break below the lower band for bearish shifts. Stay tuned for updates and manage risk accordingly.
— News Team, Futunn
Pound Sterling may be poised for a rebound against the US Dollar as the dollar’s rally shows signs of peaking. Factors like a potential Fed pause, UK valuation undervaluation, and easing political risks could lift GBP/USD above 1.28 later this year. Traders should watch economic data and central bank signals closely. #Forex #GBPUSD
Emergency Halt to Rate Cuts: The Bank of England Diverges from Global Trend
While many central banks signal easing in 2024 amid easing inflation, the BoE surprised markets by pausing rate cuts due to persistent wage growth and stubborn services inflation. This hawkish pivot strengthens the pound and challenges synchronized monetary easing expectations.
— Futunn Editorial Team
The Bank of England’s emergency halt to rate cuts marks a clear divergence from other major central banks easing policy. Persistent UK inflation and wage pressures drive a higher-for-longer stance, supporting the pound amid global shifts. How will this impact the UK economy and forex markets? #BankofEngland #Forex
The U.S. dollar remains near a three-month high as investors await key economic data this week—including PCE inflation, durable goods orders, and revised GDP—that will influence Federal Reserve policy expectations and set the tone for global currency markets.
