GBP/USD Price Forecast: Holds steady to near 1.3600, with bullish bias intact above 100-day SMA
The GBP/USD pair steadies around 1.3590 during the early European session on Friday. Traders pared expectations for an interest rate hike by the Bank of England (BoE) this year and shifted their attention to the annual symposium on monetary policy at Jackson Hole in the US later on Friday. Traders await the Federal Reserve (Fed) Chair Kevin Warsh‘s speech at the Jackson Hole symposium for clues on his policy outlook. This event could provide more clarity on his outlook for the US economy, interest rate outlook, and how the US central bank will bring inflation back to the Fed’s 2% target. Any hawkish comments from Fed officials could help limit the Greenbacks losses in the near term. On the UKs front, markets now expect the BoE to hike interest rates by 24.7 basis points by December, meaning they no longer expect a 25-bp hike by the UK central bank this year, according to LSEG data. This reflected that markets were slowly coming into alignment with most economists, who have long said in Reuters polls that the BoE is likely to hold rates steady this year. GBP consolidation expected after recent slide Strategists at UOB Group note that GBP/USD has extended its recent slide, with









