- GBP/USD rises 0.22% as market sentiment remains upbeat, with NVIDIA earnings and BoE rate hike prospects in focus.
- Interest rate differential between the US and UK narrows, potentially pushing GBP/USD towards the YTD high of 1.3147.
- Technicals indicate resistance at the 50-DMA of 1.2791; a breach could target 1.2995, while support lies at 1.2700 and 1.2620.
GBP/USD erases last Friday’s losses and climbs above the 1.2750 figure though it remains trading subdued amidst the lack of catalyst involving the Sterling (GBP) and the US Dollar (USD). US Treasury bond yields rise, but the US Dollar (USD) is pressured ahead of the Jackson Hole Symposium. At the time of writing, the GBP/USD is trading at 1.2760, registering gains of 0.22%.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased