The latest rally of around 2% from the October low has taken GBP/USD to highs near 1.3375 on Wednesday as UK inflation data
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Pound Sterling Price News and Forecast: Pound vs Dollar – Who wins amid the energy shock?
Pound vs Dollar: Who wins amid the energy shock?
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GBP/USD Price Forecast: Sees fresh upside leg above 1.3410
Data from the ONS showed that UK CPI rose to 3.5% year-on-year in September, up from 3.1% in August and above expectations of 3.4%, amid rising fuel costs. Diesel prices reached a record high, while oil rose above $100 a barrel.
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US dollar price forecast: AI doubts weigh on DXY near 101.81, EUR/USD faces French risk below 1.1241, and UK CPI at 3.5% backs GBP/USD above 1.3353.
Over recent trading sessions, the British pound has begun to show a notable recovery. This can be observed in the performance of GBP/USD, which has gained more than 1.3% over the last four sessions, reflecting a consistent improvement in sterling's strength against the U.S. dollar.
Sterling has regained its footing following the sharp September decline, with the latest rebound bringing GBP/USD to an important technical inflection point. While the near-term outlook has improved, buyers still face considerable hurdles before a more durable low can be confirmed.