GBP/USD dropped after forming a double top in recent price action during the last nine days and falls amidst speculations that the US Federal Reserve (Fed) would raise rates in May. That, alongside Fed Fund’s swaps, pushing the first rate cut by November of 2023, increased appetite for the greenback. Therefore, the GBP/USD is trading at 1.2355 after hitting a high of 1.2438. Read More…
The GBP/USD pair kicks off the new week on a subdued note and seesaws between tepid gains/minor losses through the early part of the European session. The pair is currently placed around the 1.2400 mark, nearly unchanged for the day, and for now, seems to have stalled its retracement slide from the highest level since June 2022 touched on Friday. Read More…
Further downside in GBP/USD is likely to face a tough contention around 1.2275 according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…
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