The post GBP/USD holds gains amid increasing Fed rate cut bets in December appeared on BitcoinEthereumNews.com. GBP/USD treads water above 1.3150 as Fed rate cuts climb GBP/USD inches higher after three days of losses, trading around 1.3160 during the Asian hours on Friday. The pair holds ground as the US Dollar (USD) struggles amid improving Federal Reserve (Fed) rate cut bets. According to the CME FedWatch Tool, markets are now pricing in 71% probability of a Fed rate cut in December, up from 66% the previous day. However, the upside of the GBP/USD pair could be limited as the Greenback may receive support from decreasing odds of further Federal Reserve (Fed) rate cuts. Fed Chair Jerome Powell noted that the central bank is struggling to balance its dual mandate of controlling inflation and supporting employment due to limited data availability amid the ongoing US government shutdown. Powell cautioned that policymakers may have to adopt a wait-and-see approach until official data reporting resumes. He also added that another rate cut in December is far from certain, emphasizing that the outlook remains uncertain. Read more… GBP/USD tests six months lows as Pound Sterling continues to sink GBP/USD fell again on Thursday, grinding down toward the 1.3100 handle and tipping into six month lows at 1.3116. The Pound Sterling (GBP) continues to shed weight against the US Dollar (USD), and is down over 2% against the Greenback through the month of October alone. Cable has declined for all but one of the last ten straight trading days, plummeting from a half-hearted swing high into 1.3450 and is now knocking on the 1.3100 handle. GBP/USD has fallen below the 200-day Exponential Moving Average (EMA) near 1.3275, setting up Pound sellers for a continued backslide. Read more… GBP/USD sinks below 1.32 as Powell’s ‘hawkish cut’ strengthens US Dollar GBP/USD extends its losses for the third straight day on Thursday, diving over 0.25% as traders push the exchange rate below the… The post GBP/USD holds gains amid increasing Fed rate cut bets in December appeared on BitcoinEthereumNews.com. GBP/USD treads water above 1.3150 as Fed rate cuts climb GBP/USD inches higher after three days of losses, trading around 1.3160 during the Asian hours on Friday. The pair holds ground as the US Dollar (USD) struggles amid improving Federal Reserve (Fed) rate cut bets. According to the CME FedWatch Tool, markets are now pricing in 71% probability of a Fed rate cut in December, up from 66% the previous day. However, the upside of the GBP/USD pair could be limited as the Greenback may receive support from decreasing odds of further Federal Reserve (Fed) rate cuts. Fed Chair Jerome Powell noted that the central bank is struggling to balance its dual mandate of controlling inflation and supporting employment due to limited data availability amid the ongoing US government shutdown. Powell cautioned that policymakers may have to adopt a wait-and-see approach until official data reporting resumes. He also added that another rate cut in December is far from certain, emphasizing that the outlook remains uncertain. Read more… GBP/USD tests six months lows as Pound Sterling continues to sink GBP/USD fell again on Thursday, grinding down toward the 1.3100 handle and tipping into six month lows at 1.3116. The Pound Sterling (GBP) continues to shed weight against the US Dollar (USD), and is down over 2% against the Greenback through the month of October alone. Cable has declined for all but one of the last ten straight trading days, plummeting from a half-hearted swing high into 1.3450 and is now knocking on the 1.3100 handle. GBP/USD has fallen below the 200-day Exponential Moving Average (EMA) near 1.3275, setting up Pound sellers for a continued backslide. Read more… GBP/USD sinks below 1.32 as Powell’s ‘hawkish cut’ strengthens US Dollar GBP/USD extends its losses for the third straight day on Thursday, diving over 0.25% as traders push the exchange rate below the…