Pound Sterling Price News and Forecast: GBP pares losses and nears range top at 1.3300

GBP/USD Price Forecast: Pound pares losses and nears range top at 1.3300

The British Pound (GBP) retraces Wednesday’s losses against the US Dollar (USD) on Thursday, as upbeat UK macroeconomic data has offset the negative impact of Bank of England’s (BoE) Chief Economist Huw Pill's comments. The GBP/USD has returned to the mid-range of the 1.3200s, after testing year-to-date lows around 1.3140 the previous day, and approaches the last three weeks’ range top, at the 1.3300 area.

UK data released on Thursday revealed that the economy grew unexpectedly in August, with GDP up 0.1%, against the 0.1% contraction anticipated by market analysts and following a 0.4% growth in the previous month. These figures have been largely due to the stronger-than-expected UK industrial Production, which has offset the softer performance of the construction and services sectors. Read more...

British Pound holds gains as UK GDP and Industrial Production beat expectations

The British Pound (GBP) holds gains against the US Dollar (USD) on Wednesday’s early London session, although the market reaction to the better-than-expected UK Gross Domestic Product (GDP) and Industrial Production figures has been modest. The GBP/USD pair remains steady at 1.3240 at the time of writing after bouncing from 1.3137 lows on Wednesday but still within the last few days' trading range.

UK data released on Thursday revealed that the economy grew unexpectedly in August, with GDP showing 0.1% growth, against the 0.1% contraction anticipated by market analysts but still well below the 0.4% expansion seen in the previous month. Read more...