GBP/USD Live News

This page provides live coverage and news analysis on the GBP/USD currency pair

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Sep. 29, 2022

Kicking off the session at 1.0886, the British Pound currency pair peaks at 1.1

Live - Updated 27 minutes ago.

After dipping down to 1.0762, the British Pound regains earlier losses and reaches 1.0973.

The Pound upside coincides with further encouraging market factors as highly important Crude Oil Inventories data from United States beat analyst expectations of 443,000 with a reading of -215,000.

Nevertheless, highly important Initial Jobless Claims data from United States beat analyst expectations of 215,000 with a reading of 193,000. New GDP data from United States matched market expectations with a reading of -0.6 — a positive step in contrast to previous data of -1.6 from last month.

GBP/USD broke through the 1.0883 resistance, climbing 89 pips above it. Sterling-Dollar made an initial breakout above its 5 day Simple Moving Average at 1.0867, a potential indicator of a newly emerging bullish phase.

According to technical analysis, it looks as if the British Pound likely to continue pointing upward in the short term.

Elsewhere, other currency pairs are also gaining ground as GBP/NZD skyrockets 1.82% to trade around 1.9331. GBP/CAD is up 1.68% to 1.507. Having closed the previous session at 156.87, GBP/JPY is up 1.16% today to currently trade at around 158.7.

Also worthy of note, United Kingdom GDP expected to decline to -0.1 while its preceding data was 0.8, data will be available tomorrow at 06:00 UTC. Projections for United Kingdom GDP are set for a continuation of decline with 2.9% while previous data was 8.7%; data will be released tomorrow at 06:00 UTC.

Furthermore, the market is looking at United Kingdom Nationwide HPI (MoM) (Sep) will be released tomorrow at 06:00 UTC.

As things stand, the Pound is 1.93% away from a significant low of 1.068 first set 3 days ago.

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Week to date

After ending yesterday at 1.0973, Sterling-Dollar drifts up to 1.0973 (up 10,972 pips) .

Trading week at a glance - GBP/USD is up to 1.0973, after closing yesterday at zero. Overall, a 0% move or 10,972 pips this week. (Trade the Pound with FXTM now).

On the flip side, United States Initial Jobless Claims beat analyst expectations of 215,000 and the previous reading of 209,000 with new data of 193,000. Highly important GDP data from United States beat analyst expectations of -0.6 with a reading of -0.6.

At the same time, United Kingdom Manufacturing PMI released Friday with a figure of 48.5, while the previous figure was 47.3. United Kingdom Services PMI came out at 49.2, while a consensus of analysts was expecting 50. United Kingdom Composite PMI came out at 48.4, while a consensus of analysts was expecting 49.

Furthermore, the market is looking at tomorrow at 06:00 UTC data for United Kingdom GDP will be released, with an expected decline to -0.1 from the preceding figure of 0.8. United Kingdom GDP projected to come out at 2.9% — worse than previous data of 8.7%; data will be released tomorrow at 06:00 UTC.

Also worthy of note, United Kingdom Composite PMI is expected Wednesday.