GBP/USD Price Analysis: Surges past 1.2750 as buyers gain momentum
The Pound Sterling rallied sharply against the US Dollar following a dismal ISM Services PMI reading, which increased the likelihood that the Federal Reserve will indeed cut rates at least once in 2024. The GBP/USD trades at 1.2772, up 0.69%. Read More…
Pound Sterling surges to 1.2770 after weak US private payrolls and Services PMI
The Pound Sterling (GBP) surges to near 1.2770 in Wednesday’s New York session after a sharp recovery from the three-day low of 1.2615 on Tuesday. The GBP/USD pair exhibits strength as the US Dollar (USD) dives as United States (US) ISM Services Purchasing Managers Index (PMI) contracts and ADP private payrolls unexpectedly fall in June. Read More…
GBP/USD flat lines below 1.2700, looks to US data/FOMC minutes for some impetus
The GBP/USD pair struggles to build on the overnight goodish rebound from the 1.2615 area, or a multi-day low and oscillates in a narrow band during the Asian session on Wednesday. Spot prices remain confined in a familiar range held over the past two weeks or so and currently trade just below the 1.2700 round-figure mark. Read More…
Read the full article here