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Data showed that annual US inflation fell further below 3% in November. Figures on Thursday revealed a worsening UK budget situation. Inflation in the UK was lower than anticipated in November. The dollar is caught in the sway of softer inflation signals and continues its decline, casting a favorable glow on the GBP/USD weekly forecast….
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British inflation hit an annual rate of 3.9% in October, marking a two-year low. Investors have fully priced in a Bank of England rate cut by May 2024. Analysts anticipate an easing in Friday’s US core personal consumption expenditure. The GBP/USD forecast maintained its bearish outlook on Thursday as the pair grappled with losses ahead…
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November’s British inflation data fell well below expectations. Markets fully anticipate a 25 basis point Bank of England rate cut in June 2024. Market participants are now pricing in a 69% chance of the first Fed cut in March. Disappointing November British inflation data led to a bearish GBP/USD forecast on Wednesday. The figures, significantly…
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The correction ended above the median line (ml). The upper median line (uml) stands as a major target. The Canadian CPI should bring some action later today. The GBP/USD price edged higher in the short term after reaching yesterday’s low of 1.2628. Now, the pair is trading at 1.2713 at the time of writing. It…
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Fed’s Williams challenged the market consensus for rate cuts. Britain’s services sector experienced increased growth this month. On Thursday, the Bank of England affirmed its stance on keeping interest rates high. The GBP/USD outlook takes a subtly bearish turn on Monday. The pair is retracing its steps from recent peaks due to comments by Federal…
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Inflation reports from the US showed further easing, supporting a Fed pivot. Policymakers were dovish at the Fed meeting on Wednesday, signaling an end to rate hikes. The BOE held its hawkish tone, stating that inflation was still concerning. The GBP/USD weekly forecast shows a bullish trajectory. The narrative unfolds with the Bank of England…
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The BOE affirmed its commitment to keeping British interest rates elevated. Bailey said there was still a big distance to cover in addressing inflation concerns. There was a slowdown in the UK wage growth and a 0.3% decline in gross domestic product in October. The Bank of England (BOE) stands firm in its hawkish stance,…
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UK economic data revealed a 0.3% contraction in October. US consumer prices showed a 3.1% year-on-year increase at the end of November. There was a 7.3% year-on-year increase in British earnings, excluding bonuses. Wednesday witnessed a stronger bearish GBP/USD price analysis, as the British pound took a hit following the revelation of a 0.3% contraction…
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The US inflation data will shape the Federal Reserve’s policy decision on Wednesday. US headline inflation for November is expected to remain flat. The interest rate differential between the UK and the US might widen in the coming year. Traders shifted their attention to upcoming US inflation data and various central bank meetings, leading to…
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Taking out the 1.26 psychological level activates further growth. Its failure to retest the median line (ml) announced exhausted sellers. The US Consumer Price Index should bring sharp movements. The GBP/USD price turned to the upside, trading at 1.2579 at the time of writing. Surprisingly or not, the pair came back higher after reaching Friday’s…
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Investors believe the BoE’s first rate cut may not occur until June. The upcoming BoE meeting next week will likely result in no change for UK rates. There was a moderate increase in Americans filing new claims for unemployment benefits. In Friday’s GBP/USD price analysis, a bearish tone prevails as the pound succumbs to a…