GBP/USD tipped into another fresh 13-month peak on Thursday, climbing to 1.3130 before broader market sentiment took a turn for the worse, bolstering the Greenback.
GBP/USD managed to eke out a fresh 13-month high before falling back. Cable ended Thursday where it started, trading on the north side of 1.3000. UK PMI figures improved across the board, but mixed US PMI s spark risk aversion. Cable was dragged back to the day’s opening bids around 1.3090 after US Purchasing Managers Index . figures came in lopsided.
GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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GBP/USD weakens below 1.2900, US GDP data loomsThe GBP/USD pair edges lower to 1.2895 during the Asian trading hours on Thursday.
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GBP/USD Forecast: Pound Sterling could rally with a BoE holdAfter posting small gains on Wednesday, GBP/USD came under renewed bearish pressure and fell to its weakest level in three weeks below 1.2800 in the European morning on Thursday.
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GBP/USD Price Forecast: Clings to gains, struggles near 1.3100The Pound Sterling clung to minimal gains against the Greenback on Thursday, even though UK economic data revealed that business activity remains solid.
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GBP/USD: Moving steadily towards 1.3144The Pound Sterling (GBP) could continue to rise, but it might not be able to break clearly above last year’s high of 1.3144 today, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann notes.
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GBP/USD Price Prediction: Consolidates below 1.3100 and YTD peak, bullish potential intactThe GBP/USD pair oscillates in a narrow band during the Asian session on Thursday and remains within striking distance of its highest level since July 2023, around the 1.3120 area touched the previous day.
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