Pound Sterling Price News and Forecast: GBP/USD shakes off US CPI jolt as UK growth steals spotlight
Intraday levels show possible support around 1.3475 which could support the market in the short-term. As we see from the chart, prices face supports at 1.3475 and 1.3400 where each support could lead to an advance toward 1.3675.
Pound Sterling Price News and Forecast: GBP/USD flat lines near 1.3500
British Pound: Support at 1.3495 under pressure against US Dollar – UOB
GBP/USD Price Forecast: Flat lines near 1.3500 as bulls shrug off UK GDP ahead of US CPI
GBP/USD bounced after stronger UK GDP and output figures, with manufacturing and services showing resilience despite continued weakness in construction. While a September BoE hike remains unlikely, markets are pricing a more hawkish path further out as energy-driven inflation risks build.
Current setup Bias: bullish. Any cautious bullishness at the start of the week has cascaded very quickly into all out bullishness on the GBP/INR.
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GBP/USD rose to 1.3552 on Thursday, reaching its highest level since 29 August. The pound strengthened despite oil prices rising above 100 USD per barrel and a further escalation in Middle East tensions.
GBP/USD hits two-week high as markets reassess the Bank of England's stance