The Pound Sterling (GBP) strives to gain ground near a three-week low of 1.3060 against the US Dollar (USD) on Tuesday.
The Pound Sterling remains vulnerable near 1.3060 against the US Dollar as investors expect the Fed to adopt a gradual rate-cut approach. Fed ’s Williams expects that the central bank will not be in a rush to cut interest rates quickly. Investors await the US CPI and the UK GDP for fresh interest rate outlook. The Pound Sterling strives to gain ground near a three-week low of 1.3060 against the US Dollar on Tuesday.
Technical Analysis: Pound Sterling trades below 50-day EMA The Pound Sterling trades inside Monday’s trading range, with investors focusing on the US CPI data for September. The GBP/USD pair is expected to remain on the backfoot as it fails to hold the 50-day Exponential Moving Average , which trades around 1.3100. The Cable has weakened after falling below the upward-sloping trendline from the 28 December 2023 high of 1.2827. The 14-day Relative Strength Index declines to near 40.00.
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