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GBP/USD Price Forecast: Bears gather steam, push prices below 1.3100 The British Pound lost some ground against the Greenback on Wednesday as traders await minutes of the Federal Reserve’s last meeting and US inflation data on Thursday. At the time of writing, the GBP/USD trades at 1.3070, below its opening price by 0.26%. Read More… GBP/USD trades cautiously below 1.3100 with FOMC minutes on the horizon The GBP/USD pair trades with caution below the crucial resistance of 1.3100 in Wednesday’s London session. The Cable remains under pressure as the US Dollar (USD) extends its upside, with traders pricing out another Federal Reserve (Fed) 50 basis points (bps) interest rate cut in November. Read More… GBP/USD hangs near multi-week low, below 1.3100 as traders await FOMC minutes The GBP/USD pair struggles to capitalize on the previous day’s modest recovery gains and meets with a fresh supply during the Asian session on Wednesday. Spot prices currently trade around the 1.3085-1.3080 area and remain within the striking distance of a nearly four-week low touched on Monday. Read More…       Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-bears-gather-steam-push-prices-below-13100-202410091548

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Filed under: News - @ October 9, 2024 5:25 pm