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The cable pair also declined to a three-week low the previous day amid a bounce in the US dollar. However, mixed updates and falling Treasury yields also weighed on the prices of late. On the contrary, upbeat results from the UK data lured buyers ahead of the key statistics.EURUSD Daily Analysis: September 1, 2021-Slight Down
However, the UK CBI reported Wednesday that December retail sales jumped to +11 from -19 in November. The CBI expected retail sales in January to also come in at -17. On the negative side, Reuters reported that thousands of ambulance workers in England and Wales walked off pay on Wednesday. Workers in the UK are on strike and the government is advising Britons to avoid taking risks.Gold Daily Analysis: July 26, 2021 – Gold Down Slightly
GBP/USD Today
Ahead of UK Inflation, US Retail Sales, GBPUSD Struggles to Reach 1.1900!
The 10-year US Treasury yield remained depressed near 3.65% after retreating from a monthly high of 3.72% the previous day. On the other hand, the 2-year US bond coupon also apparently fell around 4.21% after trending down for two consecutive days. On Wednesday, US CB jumped to an eight-month high of around 108.3 for December, the previous data which was in the market forecast of 101.0 and was revised to 101.40 in the previous reading. However, US EHS for November was 4.09 million MoM, the data was lower than the previous data expectations of around 4.2 million and 4.43 million.Forex Daily Analysis: April 30, 2021
Forex Price Action: Pivot Points, Support and Resistance
In short, pre-data concerns combine with mixed geopolitical cues to drive GBP/USD prices. The US state visit with Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin’s readiness to discuss military build-up are challenging risk appetite. On the other hand, China’s readiness to increase stimulus and the BOJ’s unscheduled second bond purchase allow US stock futures to remain lightly bid at the earliest.GBP/USD Development Today
UK Q3 GDP is expected to confirm a QoQ contraction of 0.2%, which could pull back the bears on the GBP/USD pair if the downbeat forecasts could provide a negative surprise. On the other hand, US GDP is expected to confirm an annualized growth of around 2.9% in Q3, while core PCE is also expected to meet the preliminary estimate of 4.6% QoQ during the mentioned period.Above is daily information about today's gbpusd news. Continue to update the latest information through the GIC journal which will be announced every day. You can also trade on the GICTrade application with its latest feature, an ECN account, enjoy the advantages of the latest features with the lowest spread starting from 0! Get a 30% Welcome Bonus promo to maximize your fund resilience when making Forex trading transactions.
