GBP/USD Oversold Slide Targets 1.30 – Scotiabank
Scotiabank strategists report GBP/USD is weaker, driven by shifting Fed expectations and falling UK yields after inflation moderated, targeting the 1.30 area.
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The British Pound is trading softer against the US Dollar, though it remains relatively resilient compared to other G10 peers, according to Scotiabank strategists Shaun Osborne and Eric Theoret.
The decline is attributed to evolving Federal Reserve policy expectations and softening UK yields, following a moderation in UK inflation data. The pair is now targeting the 1.30 level as the oversold slide continues.
Source: FXStreet Forex News