Pound Sterling Price News and Forecast: GBP/USD looking for a Friday recovery as market sentiment firms up

The GBP/USD is looking to squeeze out some gains before the Friday closing bell, stretching into 1.2170 in the Friday midday. Despite a miss for UK Retail Sales earlier in the day, the Pound Sterling (GBP) is benefiting from a general softening in the US Dollar (USD). Read More…

The Pound Sterling (GBP) retreated after the UK Office for National Statistics (ONS) reported weak Retail Sales data for September. UK households have postponed their demand for core goods as higher borrowing costs and stubborn inflation have squeezed their spending power. The GBP/USD pair has been exposed to more downside as declined consumer spending indicates that the overall demand will remain vulnerable, which would force UK firms to scale down their operating capacity further. Read More…