The most active trading sessions for the GBP/USD currency pair occur in London and New York, with some activity during Asian markets from 2400 GMT to 0900 GMT..
GBP/USD is sensitive to political and economic developments in the UK. It's influenced by interest rate differentials, economic data, and geopolitical events. For the latest updates and forecasts on GBP/USD, consult reliable sources and market analysis reports to make informed trading decisions
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The pound sterling (GBP) against the US dollar (USD) fluctuated last week amid growing bets of rate cuts from both central banks.
The recent improvement in morale that the US Central Bank will stop tightening its policy during the year 2024 weakened the price of the dollar and gave the price of the pound against the US dollar GBP/USD positive momentum to move higher with recent gains that reached the resistance level of 1.2795.
The price of the GBP/USD is trying to maintain the resistance level of 1.2700, which confirms the bulls' control of the trend.
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The pound sterling fell after it was reported that British inflation slowed by a much larger margin in November than financial markets had expected.
Contrary to the performance at the beginning of trading this week, the price of the pound sterling against the US dollar GBP/USD has returned to rebound higher.
The British pound price enters the new week's trading with some positive technical momentum that makes it appear stronger against both the euro and the dollar currencies.
Last week, GBP/USD was the most prominent for the traders of Forex currencies, as the pair of sterling currencies jumped against the dollar towards the resistance level 1.2794 higher for the currency pair for more than three months.
The US Central Bank’s announcement to keep US interest rates unchanged, with clear indications of the possibility of lowering rates next year.
Recently, the pound sterling fell against other major currencies after data showed that wages in the UK slowed in October.
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During last week's trading sessions, the exchange rate of the British Pound against the US Dollar “GBP/USD” came under pressure as the impressive November rally failed and turned into a decline.
GBP/USD Slumps as US Job Growth Exceeds Expectations, Fed Rate Cut Hopes Diminish; Technical Analysis & Future Outlook
GBP/USD Outlook: Navigates Downtrend Amid US Dollar Recovery, BoE Rate Decision Looms.
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GBP/USD corrects to 1.2577, eyes on US jobs data, BoE policy, and Fed rates. Key resistance at 1.2700, support near 1.2500
GBP/USD resilient at 1.2732 amid BoE rate decisions. Eyes on US jobs report and potential Fed rate cuts. Technicals and US data to drive near-term trend.
British Pound (GBP) surges as Bank of England signals prolonged rate hikes. GBP/USD nears 3-month high. Analysis and expectations for GBPUSD today