GBP/USD Forecast: Pound Sterling fails to benefit from hot inflation data
Following a spike above 1.2800 with the knee-jerk reaction to UK May inflation data, GBP/USD reversed its direction and declined toward 1.2700 during the European trading hours on Wednesday. The pair’s technical outlook highlights a bearish shift in the short-term outlook as investors gear up for FOMC Chairman Jerome Powell’s two-day congressional testimony. Read more…
GBP/USD: Growth concerns will temper Pound gains – MUFG
We have just had the release of the May CPI report in the UK and once again it is a bad report. Economists at MUFG Bank analyze the implication of the latest inflation data ahead of the Bank of England (BoE) meeting tomorrow. Read more…
GBP/USD to see further strength toward resistance at 1.3000 – Credit Suisse
With near-term and medium-term momentum positive, we look for strength to extend to the March/April 2022 lows at 1.2973/1.3000. Whilst we expect a better cap here initially, directly above would open the door for further gains towards 1.3091. Read more…
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