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 crypto.news@mexc.com

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
Overtake Logo
Overtake Price(TAKE)
$0.0158
$0.0158$0.0158
-0.56%
USD
Overtake (TAKE) 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 crypto.news@mexc.com 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

US Army aircrew suspended after 'photoshoot' flyby at Kid Rock's mansion: report

US Army aircrew suspended after 'photoshoot' flyby at Kid Rock's mansion: report

The U.S. Army suspended the crew of two AH-64 Apache attack helicopters after a video went viral over the weekend of MAGA-aligned musician Kid Rock waving to a
Share
Rawstory2026/04/01 01:09
Why The Green Bay Packers Must Take The Cleveland Browns Seriously — As Hard As That Might Be

Why The Green Bay Packers Must Take The Cleveland Browns Seriously — As Hard As That Might Be

The post Why The Green Bay Packers Must Take The Cleveland Browns Seriously — As Hard As That Might Be appeared on BitcoinEthereumNews.com. Jordan Love and the Green Bay Packers are off to a 2-0 start. Getty Images The Green Bay Packers are, once again, one of the NFL’s better teams. The Cleveland Browns are, once again, one of the league’s doormats. It’s why unbeaten Green Bay (2-0) is a 8-point favorite at winless Cleveland (0-2) Sunday according to betmgm.com. The money line is also Green Bay -500. Most expect this to be a Packers’ rout, and it very well could be. But Green Bay knows taking anyone in this league for granted can prove costly. “I think if you look at their roster, the paper, who they have on that team, what they can do, they got a lot of talent and things can turn around quickly for them,” Packers safety Xavier McKinney said. “We just got to kind of keep that in mind and know we not just walking into something and they just going to lay down. That’s not what they going to do.” The Browns certainly haven’t laid down on defense. Far from. Cleveland is allowing an NFL-best 191.5 yards per game. The Browns gave up 141 yards to Cincinnati in Week 1, including just seven in the second half, but still lost, 17-16. Cleveland has given up an NFL-best 45.5 rushing yards per game and just 2.1 rushing yards per attempt. “The biggest thing is our defensive line is much, much improved over last year and I think we’ve got back to our personality,” defensive coordinator Jim Schwartz said recently. “When we play our best, our D-line leads us there as our engine.” The Browns rank third in the league in passing defense, allowing just 146.0 yards per game. Cleveland has also gone 30 straight games without allowing a 300-yard passer, the longest active streak in the NFL.…
Share
BitcoinEthereumNews2025/09/18 00:41
SBI VC Trade Launches Ripple’s RLUSD in Japan

SBI VC Trade Launches Ripple’s RLUSD in Japan

The post SBI VC Trade Launches Ripple’s RLUSD in Japan appeared on BitcoinEthereumNews.com. Japan Unleashes RLUSD: SBI VC Trade Flips the Switch on Ripple’s Stablecoin
Share
BitcoinEthereumNews2026/04/01 01:29