GBP/USD halted a recent slide on Monday, recovering 1.2700 after bottoming out near 1.2660 last week.
GBP/USD bounced back to 1.2700 after a hard drop to 1.2660. US Retail Sales in the barrel for Tuesday, UK CPI inflation slated for Wednesday. Fed rate cut hopes continue to drive market flows despite cautious rhetoric. Broader market sentiment recovered to kick off the new week as investors shrug off cautionary tones from Fed eral Reserve officials to continue hoping for a September rate cut as US economic data softens.
25% in June, with the Monetary Policy Committee forecast to vote seven-to-two on keeping rates unchanged, inline with the BoE’s previous meeting. GBP/USD technical outlook GBP/USD rose back into the 1.2700 handle on Monday, but bullish momentum remains limited and the pair will need a fresh push to reclaim chart territory north of the 200-hour Exponential Moving Average at 1.2734. The pair remains steeply off of last week’s peak bids near 1.
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