The Pound Sterling (GBP) sustained the rebound and hit a two-week high against US Dollar (USD), driving the GBP/USD pair to the 1.2900 mark amid a data-dominated week.
The Pound Sterling hit a two-week high against the US Dollar, extending its recovery from five-week lows. GBP/USD buyers to retain control as eyes turn to Fed Minutes, PMI data and Jackson Hole Symposium. The path of least resistance appears to the upside for the Pound Sterling amid bullish technicals. The Pound Sterling sustained the rebound and hit a two-week high against US Dollar , driving the GBP/USD pair to the 1.2900 mark amid a data-dominated week.
Fed Chair Jerome Powell is due to speak at the Symposium on Friday at 14:00 GMT, followed by BoE Governor Andrew Bailey’s speech at 19:00 GMT. Ahead of that the US New Home Sales will be published. Sentiment around the central banks’ policy expectations will remain a key driving force in the week ahead, with traders also focused on the Middle East geopolitical escalation between Iran and Israel. GBP/USD: Technical Outlook Having defended the crucial 200-day Simple Moving Average , now at 1.
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