Pound Sterling ticks lower against USD despite firm Fed dovish bets

The Pound Sterling (GBP) surrenders gains against the US Dollar (USD) in Thursday’s late European session after failing to revisit the key resistance of 1.2800. The GBP/USD pair falls back as the US Dollar (USD) recovers losses, with the US Dollar Index (DXY) returning above 106.50. The Greenbac rebounds despite firm expectations that the Federal Reserve (Fed) will cut interest rates in the monetary policy announcement on Wednesday. Read more…

GBP/USD: Expected to trade in a sideways range of 1.2720/1.2785 – UOB Group

Pound Sterling (GBP) is expected to trade in a sideways range of 1.2720/1.2785. In the longer run, momentum is beginning to slow; GBP has to break and hold above 1.2810, or the chance of a rise to 1.2850 will diminish quickly, UOB Group’s FX analyst Quek Ser Leang and Lee Sue Ann note. Read more…