The British Pound (GBP) has fallen in line with the overall trend of the USD so far today, notes Shaun Osborne, Chief FX Strategist at Scotiabank.
GBP consolidates
“Prime Minister Starmer is in Germany to try and rebuild UK-EU ties, which could be positive for GBP. BoE MPC member Mann, who dissented in favour of upholding the MPC’s latest policy decision, speaks at 8.15ET. A series of generally firm UK data reports in the recent past will not have eased her concerns about an ‘escalation’ in wage trends.”
“GBP is consolidating but has broken out of minor uptrend support at 1.3235 during the session, suggesting a bit more near-term drift could develop. A lower close on the session could form a bearish ‘harami’ candle. GBP support is at 1.3180.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
