Looking at the 4-hour chart, the pair settled above 1.3600, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair climbed above 1.3650 and traded as high as 1.3675 on TitanFX before it started a consolidation phase.
British Pound: Sentiment supports further gains against US Dollar – Scotiabank
Cable trades near 6 ½ month peak (1.3675, hit on Friday) and moving in more quiet mode on Monday, as traders reduce speed ahead of this week's key events – release of US PCE Index and the speech of Fed's Warsh in Jackson Hole symposium, which is expected to provide the latest inflation update as well as potential signal about the US central bank's steps in coming months.
GBPUSD also shows the chance for a correction before rebounding. As we see from the chart, the market is facing resistance around 1.3675 which could give space for a trading zone toward 1.3560.
Pound-Australian Dollar could remain under pressure if RBA minutes revive rate hike bets, while a quiet UK calendar leaves Sterling reliant on wider market trends. The Pound to Australian Dollar (GBP/AUD) exchange rate traded in a wide range last week amid uneven UK economic data and a shifting market mood.
Pound Sterling Price News & Forecast: GBP/USD dips but remains on track for weekly gains
Pound Sterling Price News and Forecast: GBP/USD pushing against six-month highs in the 1.3660
Pound Sterling jumped to $1.3675 after UK services activity unexpectedly accelerated, adding to signs that the economy is holding up better than feared. The Pound to Dollar (GBP/USD) exchange rate surged to an intraday high of 1.3675 on Friday after a much stronger-than-expected UK services survey delivered a fresh positive surprise for.
British Pound: Upward momentum targets 1.3700 against US Dollar – UOB
Pound Sterling Price News & Forecast: GBP/USD advances as traders digest solid US jobless claims
Sterling is attempting to extend its recent winning streak after yesterday's weekly opening-range break accelerated the advance to fresh three-month highs. Momentum continues to strengthen alongside the move, reinforcing the constructive medium-term technical backdrop even as the risk of near-term exhaustion begins to rise.
Consumer inflation accelerated to 2.9% in July, up from 2.6% in June and in line with forecasts. Core inflation held steady at 2.6%.