GBP/USD Price Forecast: Crucial upside barrier emerges near 1.3600, traders await US PPI release
The GBP/USD pair trades on a stronger note around 1.3540 during the early European session on Wednesday. Traders ramp up their bets that the US Federal Reserve (Fed) will lower the borrowing costs at its September 16-17 policy meeting, which weighs on the US Dollar (USD) against the Cable. Traders await the US August Producer Price Index (PPI) data later on Wednesday, as it could help define the size and scope of interest rate cuts from the US central bank for next week and beyond.
Technically, the constructive outlook of GBP/USD remains in place as the major pair is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. Additionally, further upside looks favorable, with the 14-day Relative Strength Index (RSI) standing above the midline near 66.50. This displays the bullish momentum in the near term. Read more…
GBP/USD reverses gains ahead of US inflation figures
GBP/USD briefly touched a four-week peak on Tuesday, testing chart territory north of 1.3550 before getting dragged back into the low side, snapping a two-day winstreak and putting Cable back on track for a decline to the 1.3500 handle.
The economic calendar remains functionally free of United Kingdom (UK) data this week, leaving US inflation figures in the driver’s seat as investors reel from a shocking decline in United States (US) labor market data that continues to get revised even lower. Read more…
GBP/USD slips as weak US payrolls revision keeps Fed cut bets intact
GBP/USD retreats during the North American session after the latest Nonfarm Payrolls revision, which was worse than expected. At the time of writing, the pair trades at 1.3542 after hitting a daily high of 1.3590, down 0.01%.
The US Bureau of Labor Statistics (BLS) revealed the preliminary benchmark total payroll revisions since March 2025, which witnessed a downward revision of -911K. Ahead of the report, the US government revealed that the economy added nearly 1.8 million to the workforce in a year through March. Read more…
