GBP/USD Reaches New Intraday High as Bank of England’s Optimism Drives Sterling Buyers

The GBP/USD pair reached a new intraday high near 1.2635, reversing the previous day’s corrective pullback from the multi-month top, heading into Tuesday’s London open. This news comes after the quote’s retreat from the highest levels since April 2022 amid the UK holiday on Monday. Despite this, fresh optimism surrounding.

Read More

GBP/USD Hits Fresh Weekly High Ahead of Bank of England Interest Rate Decision

Introduction The GBP/USD currency pair has seen a significant rally in the early European session, reaching a fresh weekly high of 1.2653. This surge is largely attributed to market speculation that the Bank of England (BoE) is preparing to announce a fresh interest rate hike in its upcoming policy announcement..

Read More

Binance Under Investigation by US Justice Department for Potential Violations of Sanctions

Binance Faces Investigation Over Alleged Sanctions Violations   The U.S. Justice Department’s (DOJ) national security division is reportedly investigating Binance, the world’s biggest cryptocurrency exchange, for potential violations of U.S. sanctions related to Russia’s invasion of Ukraine. A Bloomberg report indicates that the DOJ wants to ascertain whether Binance or.

Read More

GBP/USD Faces Downside Pressure as Support Structure Gives Way

The GBP/USD currency pair is facing downside pressure in the NY trading session, and traders are watching closely as it tests a key support structure. This move lower is being driven by a variety of factors, including the US dollar’s strength, Brexit uncertainty, and concerns about the UK economy. One.

Read More

GBP/USD Drops from One-Year High as USD Demand Picks Up After Upbeat US Jobs Data

The GBP/USD pair retreated from a nearly one-year high as the USD gained momentum amid the upbeat US jobs data. The US bond yields rose, boosting the US dollar. However, the risk-on impulse limited the USD gains and prevented any significant decline in the GBP/USD pair. Traders also appeared reluctant.

Read More

GBP/USD May Inch Higher to 1.2650/2750, Says ING

Introduction The GBP/USD currency pair has been closely watched by traders and economists alike as the exchange rate fluctuates due to various economic factors. According to a report by ING economists, the pair may continue to inch higher to 1.2650/2750. In this article, we’ll take a closer look at the.

Read More

GBP/USD Pair Gains Ground Ahead of Fed Meeting: What to Expect and How to Trade?

The British Pound (GBP) has gained some ground against the US Dollar (USD) on Wednesday, trading around the 1.2500 level. The GBP/USD pair has been recovering from a recent low of 1.2286 on April 23, as investors await the outcome of the Federal Reserve (Fed) monetary policy meeting. The Fed.

Read More

GBP Subject to USD Factors with UK Economic Data Points in Focus

Introduction: The British Pound is one of the most actively traded currencies globally and is subject to fluctuations based on various factors. This week, the Pound is primarily subject to USD factors. However, today’s economic calendar will carry some UK-specific data points, providing additional information to the Bank of England.

Read More

GBP/USD Slips by 0.1% to 1.2481 as Dollar Regains Strength

Factors Contributing to the GBP/USD Slump   The GBP/USD currency pair declined by 0.1% to 1.2481 as the US dollar regained strength against the pound. The currency pair had been trading at 1.2490 earlier in the day before the slump occurred. The decline was partly attributed to the US dollar’s.

Read More

GBP/USD Hits YTD Highs Despite Fed Rate Hike Concerns

GBP/USD Soars Despite Fundamental News   The GBP/USD has soared to fresh year-to-date highs at 1.2583, in spite of fundamental news from the United States that has increased the likelihood of a Federal Reserve 25 bps rate hike. As of this writing, the GBP/USD is trading at 1.2571, which is.

Read More

GBP/USD Expected to Gain Momentum above 1.2550, Says UOB Group Economists

Introduction   The foreign exchange market is one of the most dynamic and volatile markets in the world, with prices fluctuating constantly based on a variety of economic, political, and social factors. The GBP/USD currency pair is one of the most actively traded pairs in the market, and economists at.

Read More

GBP/USD Struggles to Gain Traction Amid Subdued US Dollar Price Action

The GBP/USD pair is currently struggling to gain any meaningful traction on Thursday and is oscillating in a narrow trading band through the first half of the European session. The pair is currently placed just above mid-1.2400s, nearly unchanged for the day. However, the downside seems cushioned amid subdued US.

Read More