The post GBP/USD slips as firm US jobless claims offset BoE cut bets appeared on BitcoinEthereumNews.com. The Pound Sterling (GBP) retreats over 0.11% on ThursdayThe post GBP/USD slips as firm US jobless claims offset BoE cut bets appeared on BitcoinEthereumNews.com. The Pound Sterling (GBP) retreats over 0.11% on Thursday

GBP/USD slips as firm US jobless claims offset BoE cut bets

For feedback or concerns regarding this content, please contact us at [email protected]

The Pound Sterling (GBP) retreats over 0.11% on Thursday as the Greenback remains steady following a report that the number of Americans applying for unemployment benefits was below estimates last week, an indication of the resilience of the labor market. At the time of writing, GBP/USD trades at 1.3544 after reaching a daily high of 1.3575.

Sterling eases as resilient US labor data steadies the Dollar while UK political risks linger

Financial market sentiment worsened after Nvidia Corp reported earnings and a solid outlook. Nevertheless, the AI rally seems overextended, and market participants are seeking reassurance about the AI outlook. So far, Wall Street has registered losses between 0.28% and 2%.

Initial Jobless Claims in the US for the week ending February 21 rose from 208K to 212K, beneath forecasts of 215K. This and previously released jobs market data during the month revealed some stabilization in the labor market, highlighted by some Federal Reserve (Fed) officials.

Fed Governor Stephen Miran reaffirmed his dovish stance as he is looking for 1% rate cuts this year. He added that “prices right now seem stable,” and he does not think the US has an inflation problem.

Across the pond, in the UK, Prime Minister Keir Starmer is under pressure due to the nomination of Peter Mandelson as ambassador to the US, who has ties to Jeffrey Epstein.

Local elections in Gorton and Danton, located in Greater Manchester, are set to take place. Should Starmer’s Labour Party fail to secure victory, there may be mounting calls for his removal as leader, a headwind for the British Pound.

Aside from this, there is growing speculation that the Bank of England (BoE) will reduce rates in the March meeting, after Governor Andrew Bailey commented that a cut in that date is a “genuinely open question.”

Despite this, Bailey added that services inflation remains high, but on the other hand, the GDP growth was mediocre, and a jump in unemployment in Q4 2025 prompted investors to price in further easing by the UK central bank.

Money markets had priced in a 81% chance for a BoE rate cut in the March 19 meeting, according to Prime Market Terminal.

BoE rate cut expectations – Source: Prime Market Terminal

GBP/USD traders’ focus shifts to Friday’s US Producer Price Index (PPI) data, along with speeches by Federal Reserve officials. In the UK, the calendar is absent except for a speech by BoE Chief Economist Huw Pill.

GBP/USD Price Forecast: Technical outlook

In the daily chart, GBP/USD trades at 1.3517. The pair sits just below the clustered simple moving averages around 1.3540–1.3535, but price is also capped by a descending resistance trend line from 1.3869, leaving the near-term bias neutral with a slight downside tilt. The long-running ascending support line from 1.3035 still underpins the broader uptrend, yet repeated failures along the falling resistance line and the softening Fed Sentiment Index highlight waning bullish momentum and the risk of a deeper pullback if spot slips decisively below the nearby averages.

Initial support emerges around 1.3500, in line with recent lows and just beneath the ascending trend-line zone, with a break exposing the next downside area near 1.3460 and then 1.3400. On the topside, the descending trend line now acts as immediate resistance around 1.3550, followed by last week’s highs near 1.3635 and the 1.3800 region, where prior peaks converge and a sustained break would be needed to revive a clear bullish continuation.

(The technical analysis of this story was written with the help of an AI tool.)

(This story was corrected on February 26 at 16:14 to say in the technical analysis section that the pair sits below the clustered simple moving averages around 1.3540–1.3535, not above.)

Source: https://www.fxstreet.com/news/gbp-usd-slips-as-firm-us-jobless-claims-offsets-boe-cut-bets-202602261559

Market Opportunity
Ucan fix life in1day Logo
Ucan fix life in1day Price(1)
$0.0005309
$0.0005309$0.0005309
+1.80%
USD
Ucan fix life in1day (1) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Landmark Court Ruling Rejects Terrorism Financing Claims

Landmark Court Ruling Rejects Terrorism Financing Claims

The post Landmark Court Ruling Rejects Terrorism Financing Claims appeared on BitcoinEthereumNews.com. Binance Lawsuit Dismissed: Landmark Court Ruling Rejects
Share
BitcoinEthereumNews2026/03/07 10:27
The U.S. Commodity Futures Trading Commission unveiled a new logo, claiming it will usher in a "golden age" of innovation.

The U.S. Commodity Futures Trading Commission unveiled a new logo, claiming it will usher in a "golden age" of innovation.

PANews reported on March 7 that the U.S. Commodity Futures Trading Commission (CFTC) today unveiled a new logo, stating that it symbolizes the agency's commitment
Share
PANews2026/03/07 10:08
MetaMask’s Polymarket Integration May Make LINEA Rewards and Perpetual Trading a New On-Chain Financial Hub

MetaMask’s Polymarket Integration May Make LINEA Rewards and Perpetual Trading a New On-Chain Financial Hub

The post MetaMask’s Polymarket Integration May Make LINEA Rewards and Perpetual Trading a New On-Chain Financial Hub appeared on BitcoinEthereumNews.com. COINOTAG recommends • Exchange signup 💹 Trade with pro tools Fast execution, robust charts, clean risk controls. 👉 Open account → COINOTAG recommends • Exchange signup 🚀 Smooth orders, clear control Advanced order types and market depth in one view. 👉 Create account → COINOTAG recommends • Exchange signup 📈 Clarity in volatile markets Plan entries & exits, manage positions with discipline. 👉 Sign up → COINOTAG recommends • Exchange signup ⚡ Speed, depth, reliability Execute confidently when timing matters. 👉 Open account → COINOTAG recommends • Exchange signup 🧭 A focused workflow for traders Alerts, watchlists, and a repeatable process. 👉 Get started → COINOTAG recommends • Exchange signup ✅ Data‑driven decisions Focus on process—not noise. 👉 Sign up → The MetaMask Polymarket integration brings decentralized prediction markets directly into MetaMask, enabling users to trade event outcomes while retaining full self-custody. The update, paired with in-app perpetuals and a Rewards program, transforms MetaMask into a multi‑product on‑chain trading hub. (Published Oct 14, 2025) MetaMask adds Polymarket prediction markets natively Users can trade outcomes on crypto, politics and global events while keeping custody of private keys. Polymarket has seen nearly $20B in trading volume (TokenTerminal); MetaMask also launches Rewards and in‑app perpetuals. MetaMask Polymarket integration: trade predictions inside MetaMask while keeping custody — explore in‑app perps, earn rewards, and access new trading tools today. The world’s largest self-custodial wallet adds perpetual trading, a rewards system, and a Polymarket integration, signaling its transformation into a full financial hub. COINOTAG recommends • Professional traders group 💎 Join a professional trading community Work with senior traders, research‑backed setups, and risk‑first frameworks. 👉 Join the group → COINOTAG recommends • Professional traders group 📊 Transparent performance, real process Spot strategies with documented months of triple‑digit runs during strong trends; futures plans use defined R:R…
Share
BitcoinEthereumNews2025/10/15 05:19