GBP/USD Forecast: Pound Sterling struggles to benefit from upbeat UK data

GBP/USD has started the new week in an indecisive manner with market participants refraining from making large bets ahead of the high-tier data releases and all-important central bank decisions. The pair’s short-term technical outlook points to a loss of bullish momentum but it would be surprising to see a significant move in either direction in the remainder of the day. Read more…

GBP/USD to struggle to hold any gains over 1.23 – ING

This week’s highlight will be the Bank of England meeting on Thursday. Economists at ING expect the “Old Lady” to revert to a 50 bps hike with the GBP/USD pair moving below the 1.23 mark.

“We expect the BoE to revert to a 50 bps hike (55 bps hike priced) as it tries to balance high inflation against growing evidence of a prolonged downturn – with little signs of stimulus.” Read more…

GBP/USD probes bears above 1.2200 on UK data dump, BOE, Fed eyed

GBP/USD picks up bids to rebound from the intraday low of 1.2207 after the UK data flashed upbeat statistics during early Monday. In doing so, the Cable pair challenges the previous pessimism surrounding the British economy and likely challenges for the Bank of England (BOE). However, broad-based US Dollar strength, amid recession woes and the pre-Fed anxiety, challenges the Cable pair buyers. Read more…