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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GBP/USD is expected to extend its journey towards the top end of its 2024 range in the coming days, but a strong US PCE inflation reading at the end of the week could turn the tide.
GBP/USD started this week's trading steady around the 1.2740 resistance level, which is close to the 1.2775 resistance that encourages bulls to move further upwards.
The British pound rallied on Friday as it looks like we are trying to dig into the resistance just above that extends from 1.27 to the 1.28 level.
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Sterling rose to $1.275 yesterday, its strongest level in about two months, after a higher-than-expected UK inflation reading reduced bets on a Bank of England rate cut.
According to recent trading, the price of the pound sterling against the US dollar (GBP/USD) fluctuates near the 1.27 resistance despite the US Federal Reserve’s hawkish comments.
The British pound has been somewhat noisy during the trading session, as we initially dropped to, only to turn around and show signs of life again.
The British pound has rallied slightly during the trading session on Monday as it looks like we are threatening the 1.27 level.
According to recent trading, the price of the US dollar generally recovered last Thursday, with a feeling that the markets may have overreacted to the US inflation data in the same week.
The British pound has pulled back just a bit during the early hours on Friday, only to turn around and show signs of strength again.
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The British pound initially trying to rally during the session in the early hours of Thursday but has turned back around to show signs of hesitation.
Amidst a weakening US dollar, the GBP/USD currency pair surged to a resistance level of 1.2700 this morning, Thursday.
The British pound has rallied significantly in the early hours on Wednesday, but now is facing a major resistance barrier against the greenback.
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According to Forex market trading, the pound sterling briefly dipped before recovering to around $1.25 as traders digested recent labor data and monetary policy expectations.
The British pound initially fell during the trading session on Tuesday, reaching down toward the 1.25 level before turning around again.
GBP/USD bulls have pushed the pair above 1.2500, but bears are still in control of the trend.