Pound Sterling Price News and Forecast: GBP/USD turns south as markets discount a less aggressive BoE

In Tuesday’s session, the GBP/USD fell below the 1.2500 area near 1.2490, seeing nearly 0.14% losses. The main downward driver of the Cable is investors placing dovish bets on the Bank of England (BoE) and the Greenback recovering ground, and markets remain cautious ahead of inflation figures from the US from August. Read More…

The Pound Sterling (GBP) fails to defend its crucial support at 1.2500 after the release of a vulnerable labor market report for July. The GBP/USD pair remains under pressure on signs of increasing unemployment but persistent wage growth. Bank of England (BoE) policymakers are expected to face pressure from a stubborn inflation outlook due to strong wage growth and a bleak labor market outlook due to higher interest rates. Read More…

The GBP/USD pair consolidates its recent losses above the 1.2500 area during the early European trading hours on Tuesday. The major pair currently trades near 1.2515, up 0.04% on the day. Read More…