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Pound Sterling ranges below 1.3400 with US PCE inflation under spotlight The Pound Sterling (GBP) performs weakly against its major peers, except the Asia-Pacific currencies, on Friday. The British currency weakens as investors turn cautious ahead of PCE inflation data. There isn’t any top-tier United Kingdom (UK) economic data this week or the next one. Therefore, the GBP will be influenced by market expectations for the Bank of England’s (BoE) monetary policy action for the remainder of the year. Read more… GBP/USD: Unlikely to break above 1.3455 – UOB Group Room for the Pound Sterling (GBP) to edge higher, but any advance is unlikely to break above 1.3455. In the longer run, GBP must break and hold above 1.3455 to resume strength, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. 24-HOUR VIEW: “Our view for GBP to ‘continue to decline’ yesterday was incorrect. Instead of declining, GBP rose and reached a high of 1.3434. Despite the relatively strong advance, there has been no significant increase in momentum. Today, there is room for GBP to edge higher, but any advance is unlikely to break above 1.3455. Support is at 1.3375, followed by 1.3340.” Read more… Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-ranges-below-13400-with-us-pce-inflation-under-spotlight-202409271123

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Filed under: News - @ September 27, 2024 12:24 pm