GBP/USD Price Analysis: Struggles at 200-DMA, retreats toward 1.2500
The Pound Sterling weakened against the US Dollar on Friday, even though economic data from the UK was better than expected. Fears that the US economy may slow more sharply than expected as consumer sentiment deteriorates. The GBP/USD trades at 1.2510, down 0.10%. Read More…
Pound Sterling rises as UK economy comes out of shallow recession
The Pound Sterling (GBP) extends its upside to 1.2540 in Friday’s early New York session as the United Kingdom (UK) Office for National Statistics (ONS) posted strong preliminary Q1 Gross Domestic Product (GDP) numbers. The agency showed that the economy expanded at a strong rate of 0.6% against expectations of 0.4% after contracting by 0.3% in the last quarter of 2023. Read More…
GBP/USD rises to near 1.2540, driven by higher UK GDP
GBP/USD edged higher to near 1.2540 during Asian hours on Friday, buoyed by the release of higher-than-expected UK Gross Domestic Product (GDP) data for the first quarter. GDP (QoQ) rose by 0.6%, reversing the previous quarter’s decline of 0.3%, surpassing expectations of a 0.4% increase. Additionally, GDP (YoY) increased by 0.2%, rebounding from the previous decline of 0.2%. Read More…
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