GBP/USD stretches higher, approaching 1.3800 with the US Dollar at long-term lows
The Pound is accelerating its uptrend on Tuesday, unaffected by rather downbeat UK manufacturing PMI data. US Dollar weakness is driving markets today with tariff uncertainty, renewed concerns about the US fiscal health, and rising bets on Fed cuts crushing demand for the US Dollar.
UK manufacturing activity has remained steady at 47.7 in June, but new orders, employment and output declined from the previous month and pointing to further contraction in the coming months. Read more…
GBP/USD Forecast: Pound Sterling could face stiff resistance at 1.3830
GBP/USD gathers bullish momentum following Monday’s choppy action and trades at its highest level since October 2021 above 1.3770. In the second half of the day, macroeconomic data releases from the US and comments from central bankers could drive the pair’s action.
Following the previous week’s sharp decline, the US Dollar (USD) Index stays under bearish pressure early Tuesday, fuelling GBP/USD’s rally. The risk-positive market atmosphere and increasing political pressure on the Federal Reserve (Fed) continue to weigh on the USD. Read more…
GBP/USD forecast: Can the British Pound rally sustain as the Dollar dips and risk tensions mount?
With the U.S. dollar under pressure and UK data stabilizing, the British pound could extend gains – but fragile sentiment and political risks may limit upside.
The British pound is trading with a cautiously bullish tone, finding strength above the 1.3700 level as the U.S. dollar loses momentum. While Fed rate cut bets and falling U.S. bond yields continue to drag the greenback lower, sterling’s gains are more a reflection of dollar weakness than overwhelming UK strength. Read more…
