The post GBP/USD continues to be weighed down by combining negative factors appeared on BitcoinEthereumNews.com. GBP/USD Weekly Forecast: Pound Sterling faces BoE test as budget woes weigh The Pound Sterling (GBP) accelerated its recent declines against the US Dollar (USD), as GBP/USD briefly revisited levels under the 1.3150 psychological mark. Market sentiment was largely driven by hopes of a US-China trade deal and the anticipation of dovish US Federal Reserve (Fed) monetary policy announcements at the start of the week, fuelling fresh declines in the USD. The odds of a US-China trade deal ramped up after a preliminary consensus on topics including export controls, fentanyl and shipping levies was reached by both sides during their two-day talks in Malaysia. On October 24, the Bureau of Labor Statistics (BLS) showed that the US Consumer Price Index (CPI) rose 0.3% in September, which drove the annual inflation rate from 2.9% to 3%, the highest it has been since January. The annual CPI inflation came in softer than the market forecast of 3.1%. Read more… GBP/USD hangs near its lowest level since April 14, seems vulnerable below mid-1.3100s The GBP/USD pair remains depressed below mid-1.3100s at the start of a new week and languishes near its lowest level since April 14, touched on Friday. Meanwhile, the fundamental backdrop seems tilted in favor of bearish traders and backs the case for an extension of the recent well-established downtrend witnessed over the past one-and-a-half month or so. The US Dollar (USD) stands firm near a three-month high in the wake of the US Federal Reserve (Fed) Chair Jerome Powell’s hawkish tilt last week and is seen as a key factor that continues to weigh on the GBP/USD pair. In fact, Powell pushed back against market expectations for another 25 basis points (bps) interest rate cut in December. This helps offset concerns about economic risks stemming from a prolonged US government shutdown and continues to… The post GBP/USD continues to be weighed down by combining negative factors appeared on BitcoinEthereumNews.com. GBP/USD Weekly Forecast: Pound Sterling faces BoE test as budget woes weigh The Pound Sterling (GBP) accelerated its recent declines against the US Dollar (USD), as GBP/USD briefly revisited levels under the 1.3150 psychological mark. Market sentiment was largely driven by hopes of a US-China trade deal and the anticipation of dovish US Federal Reserve (Fed) monetary policy announcements at the start of the week, fuelling fresh declines in the USD. The odds of a US-China trade deal ramped up after a preliminary consensus on topics including export controls, fentanyl and shipping levies was reached by both sides during their two-day talks in Malaysia. On October 24, the Bureau of Labor Statistics (BLS) showed that the US Consumer Price Index (CPI) rose 0.3% in September, which drove the annual inflation rate from 2.9% to 3%, the highest it has been since January. The annual CPI inflation came in softer than the market forecast of 3.1%. Read more… GBP/USD hangs near its lowest level since April 14, seems vulnerable below mid-1.3100s The GBP/USD pair remains depressed below mid-1.3100s at the start of a new week and languishes near its lowest level since April 14, touched on Friday. Meanwhile, the fundamental backdrop seems tilted in favor of bearish traders and backs the case for an extension of the recent well-established downtrend witnessed over the past one-and-a-half month or so. The US Dollar (USD) stands firm near a three-month high in the wake of the US Federal Reserve (Fed) Chair Jerome Powell’s hawkish tilt last week and is seen as a key factor that continues to weigh on the GBP/USD pair. In fact, Powell pushed back against market expectations for another 25 basis points (bps) interest rate cut in December. This helps offset concerns about economic risks stemming from a prolonged US government shutdown and continues to…

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