GBP trades lower against US Dollar ahead of US PCE inflation

Pound Sterling trades lower against US Dollar ahead of US PCE inflation

The Pound Sterling (GBP) corrects to near 1.3455 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair retreats after a three-day winning streak as the US Dollar trades marginally higher ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for July, which will be published at 12:30 GMT.

At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, ticks up to near 98.00. Read more…

GBP/USD Forecast: Pound Sterling could extend correction unless risk mood improves

GBP/USD loses its traction and trades in negative territory below 1.3500 after closing the previous three days higher. The pair’s near-term technical outlook points to a loss of bullish momentum.

GBP/USD edged higher on Thursday but erased a portion of its daily gains in the American session as the upbeat macroeconomic data releases helped the US Dollar (USD) find a foothold. Read more…