Main >
Analytics
>
Fresh forecast
>
Forex Fundamental Analysis
>
GBP/USD recovers recent losses

GBP/USD recovers recent losses | 19 February 2024

19 February 2024, GBP/USD

GBP/USD recovers recent lossesGBPUSD: The GBPUSD is trending upwards, while the US Dollar (USD) is under pressure from market sentiment leaning towards expecting a Federal Reserve rate cut at the upcoming March meeting. This sentiment was reinforced when former Fed official James Bullard said at the National Association for Business Economics (NABE) conference that the Fed should consider lowering interest rates so as not to discourage economic activity due to rising rates. In Asian trading hours on Monday, the Pound-Dollar pair is trading around 1.2620.

UK housing data pointed to an annual improvement in property prices, which may have provided some support for the GBP/USD pair. The UK house price index rose by 0.1% in February, compared to the previous decline of 0.7%. However, the monthly report showed a contraction, with February's rise of 0.9% compared to the previous increase of 1.3%.

The UK has officially entered a technical recession characterized by two consecutive quarters of negative GDP growth. In addition, Bank of England Governor Catherine L. Mann noted that the central bank needs at least one more set of inflation data before it determines its next course of action.

Trade recommendation: Trade predominantly on Buy from current values

Activate Deposit bonus 300% and get x3 bonus funds! Increase your trading volume and get more profits with Freshforex!

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.