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GBP/USD Price Analysis: Remains bearish, falls below 1.2700 The Pound Sterling creeps lower against the US Dollar on Tuesday, amid a scarce economic docket in the UK following the release of mixed data in the United States. At the time of writing, the GBP/USD trades at 1.2688, down 0.12%. Read More… Pound Sterling bounces back as slower US Retail Sales growth weighs on US Dollar The Pound Sterling (GBP) rebounds towards the round-level resistance of 1.2700 against the US Dollar (USD) in Tuesday’s American session. The GBP/USD pair found buyers’ interest after the United States (US) monthly Retail Sales report for May showed that sales at retail stores grew by 0.1%, slower than expectations of 0.2%. The report also showed that consumers cut their spending heavily on discretionary items, suggesting that household crises have deepened due to higher interest rates by the Federal Reserve (Fed), and receipts at service stations were of lower amounts due to soft gasoline prices. Read More… GBP/USD finds a meager rebound on Monday, but UK CPI inflation looms ahead GBP/USD halted a recent slide on Monday, recovering 1.2700 after bottoming out near 1.2660 last week. Broader market sentiment recovered to kick off the new week as investors shrug off cautionary tones from Federal Reserve (Fed) officials to continue hoping for a September rate cut as US economic data softens. Read More…   Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-remains-bearish-falls-below-12700-202406181618

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Filed under: News - @ June 18, 2024 10:12 pm