The GBP/USD pair continues its losses and is approaching the 1.2600 level

Pound The pound sterling extended its suffering and fell for the second day in a row after the Bank of England’s decision to suspend Rates Unchanged, indicating that the beginning of the easing cycle is coming. In addition, British economic data was mixed Retail Beating estimates but declining flash PMIs suggest the economy may be slowing. The GBP/USD pair is trading at 1.2636, down by 0.16%. Read more…

The British Pound (GBP) is still in decline in the US session on Friday against the majority of currencies except euro, following strong UK retail sales data for May and weak preliminary data from S&P Global/CIPS for June. The UK Office for National Statistics (ONS) report was stronger than expected Retail May data. The report showed that monthly retail sales rebounded, rising by 2.9%, more than expectations of 1.5%. On a yearly basis, retail sales surprisingly rose by 1.3% while investors expected them to decline by 0.9%. Read more…

The GBP/USD pair was seen trading in a range during the Asian session on Friday and consolidating the previous day’s decline after the Bank of England (BoE) hit a one-month low. Spot prices are currently trading just above the mid-1.2600s and appear vulnerable to prolonging the decline of the recent correction from a multi-month peak, around the 1.2860 area touched last week. Read more…