Pound Sterling steadies in calm start to UK/US Inflation

The Pound Sterling (GBP) gains against its major peers, except the Australian Dollar (AUD) and the New Zealand Dollar (NZD), in Monday’s New York session. The British currency strengthens, with investors focusing on the United Kingdom (UK) Employment data for the three months ending June and the Consumer Price Index (CPI) data for July, which will be published on Tuesday and Wednesday, respectively.

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GBP/USD Price Forecast: Stalls around 1.2780, risks skewed to the downside

The Pound Sterling consolidates around the 1.2758 area on Monday, extending its gains for three straight days. However, it faces strong resistance at the 50-day moving average (DMA) at 1.2784, which quickly rejected the GBP/USD, which trades virtually unchanged, up 0.02%. 

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GBP/USD Price Forecast: Remains above 1.2750 with testing nine-day EMA

GBP/USD pauses its two-day advance, trading around 1.2760 during the Asian session on Monday. The daily chart analysis shows the pair is consolidating within a descending channel, indicating a bearish bias. 

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