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GBP/USD retreats below 1.3100 amid underwhelming US data – Crypto News
GBP/USD struggles at 1.3100 and retreats as the United States (US) economy continued to show signs of weakening, suggested by not-so-good economic data revealed on early Tuesday. In addition, the United Kingdom (UK) inflation report, just around the corner, is set to keep the GBP/USD pair within familiar levels. At the time of writing, the GBP/USD is trading at 1.3055, down 0.13%. Read More…
The pound Sterling (GBP) has fallen back below the round-level resistance of 1.3100 as uncertainty ahead of the United Kingdom’s inflation data has increased again. The GBP/USD pair struggles in finding a key trigger and has been oscillating near 1.3100. The present volatility The squeeze is expected to be followed by an explosion once inflation data is published on Wednesday. UK producer prices have recently eased, as did household demand for big-ticket items, but inflation for consumers has proven to be more persistent than initially expected. Read More…
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, further gains in GBP/USD are expected to challenge the 1.3335 level. Read More…
