Pound Sterling Price News and Forecast: GBP/USD extending declines, trying to find a floor near 1.21

The GBP/USD continues to slip around below the 1.2160 cap on Wednesday trading, dipping to a session low of 1.2110 as selling pressure looks to crack the 1.2100 handle heading into the latter half of the trading week. Read More…

The Pound Sterling (GBP) extends its five-day losing spell as investors foresee the United Kingdom economy shifting into a recession due to deteriorating labor market conditions and a poor demand outlook. The GBP/USD pair is expected to deliver more losses as a pause in the rate-tightening cycle by the Bank of England (BoE) would elevate consumer inflation expectations. Read More…

Extra weakness could drag GBP/USD to the 1.2100 region in the next few weeks, note UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Read More…