GBP/USD pause on the way to 1.1200 ahead of UK GDP, US PCE Inflation – by anilpanchal7 GBPUSD BOE Recession BitcoinSV CentralBanks
the broad US dollar weakness, as well as mixed concerns surrounding the US dollar ahead of the key data from the UK and the US.
With this, the “Old Lady,” as the BOE is known sometimes, appears set for the strong rate hike cycle, which in turn propels the GBP/USD prices. remains on the back foot at around 111.90 while snapping a two-week uptrend. In doing so, the greenback’s gauge versus the six major currencies fails to justify the recently hawkish Fedspeak and the broad recession fears amid downbeat inflation expectations. This makes today’s Core Personal Consumption Expenditure Price Index for August, expected 4.
Given the upbeat expectations from inflation and fears of economic slowdown in the UK, the GBP/USD could pare the latest gains if the scheduled data matches the forecasts.Technical analysis
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