The Pound Sterling (GBP) extended its losing streak against the US Dollar (USD) into the third straight week, knocking off GBP/USD to a fresh monthly low below 1.2650.
The Pound Sterling tumbled to a new one-month low below 1.2650 against the US Dollar. GBP/USD braces for a relatively data-light week, with US PCE inflation as the only event risk. Will the Pound Sterling extend the range-play as the daily RSI dips below the 50 level? The Pound Sterling extended its losing streak against the US Dollar into the third straight week, knocking off GBP/USD to a fresh monthly low below 1.2650.
There are no high-impact UK data releases, and therefore, attention will be drawn across the Atlantic. The US statistical releases are also light until Friday when the US Core Personal Consumption Expenditure Price Index, the Fed’s preferred inflation measure, will hog the limelight. Thursday will feature the mid-tier US Durable Goods Orders, Jobless Claims and Pending Home Sales data.
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