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    British Pound (GBP) Price Outlook: GBP/USD Still Edging Lower as USD Rises

    Abstract:GBP PRICE, NEWS AND ANALYSIS:
    •   GBP/USD continues to trade broadly sideways with a small bias lower.

    •   That reflects principally US Dollar strength as speculation grows that the Federal Reserve will tighten US monetary policy earlier than analysts had previously forecast.

    gbp-usd-surged-on-strong-uk-retail-sales-pmi.jpg
    GBP/USD BIASED TO THE DOWNSIDE

      Analysts are continuing to speculate that the Federal Reserve will tighten US monetary policy earlier than previously expected after last week‘s strong US jobs data. That’s helping to lift the US Dollar all round and has knocked back pairs like GBP/USD although, as the chart below shows, the bias to the downside is quite weak.

    GBP/USD PRICE CHART, HOURLY TIMEFRAME (JULY 28 – AUGUST 10, 2021)
    British

      In addition, the US Dollar is being supported by news that the US Senate will vote today on a $1 trillion infrastructure bill that is expected to pass. However, it will still have to be passed by the House of Representatives sometime after the House returns late next month from its summer break.

      Nearer term, the next move in pairs like GBP/USD could hinge on the US inflation data due tomorrow. The headline rate is predicted to ease to 5.3% year/year, down from the previous 5.4%.

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    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
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