The post GBP/USD edges higher to near 1.3090 early European session appeared on BitcoinEthereumNews.com. GBP/USD Price Forecast: Holds gains near 1.3100, but bearish momentum persists below 100-day EMA The GBP/USD pair strengthens to around 1.3090 during the early European session on Friday. Nonetheless, the potential upside for the major pair might be limited amid growing expectations of the Bank of England (BoE) rate cut at its next monetary policy meeting in December. Traders brace for the UK Retail Sales data later on Friday, along with the flash UK S&P Global PMI Purchasing Managers Index (PMI).  Recent weak UK economic data, such as Consumer Price Index (CPI) inflation, disappointing GDP, and Industrial Production readings, have boosted a BoE rate cut bets in the December meeting. The UK central bank is expected to cut interest rates in December and again early next year as inflation cools over the coming months, according to a majority of economists in a Reuters poll who last month expected borrowing costs to remain unchanged for the remainder of this year. Read more… GBP/USD finds thin technical support ahead of global PMIs GBP/USD cut off a four-day losing streak on Thursday, catching a thin technical bounce from the 1.3050 region. Cable price action is still caught on the bearish side of long-term moving averages, but investors are taking a breather ahead of Friday’s data docket. US Nonfarm Payrolls (NFP) jobs data from September was released on Thursday, much later than usual thanks to the US government’s latest funding shutdown. The data came in stronger than expected, showing 119K net job gains through September, well above the expected 50K. The upswing in NFP jobs gains functionally closes the door on a Federal Reserve (Fed) interest rate cut on December 10, which would have required stronger signs of labor market deterioration. Read more… GBP/USD rebounds as traders twist strong NFP into fresh Fed-cut hopes The Pound Sterling (GBP) advances during the North American session on… The post GBP/USD edges higher to near 1.3090 early European session appeared on BitcoinEthereumNews.com. GBP/USD Price Forecast: Holds gains near 1.3100, but bearish momentum persists below 100-day EMA The GBP/USD pair strengthens to around 1.3090 during the early European session on Friday. Nonetheless, the potential upside for the major pair might be limited amid growing expectations of the Bank of England (BoE) rate cut at its next monetary policy meeting in December. Traders brace for the UK Retail Sales data later on Friday, along with the flash UK S&P Global PMI Purchasing Managers Index (PMI).  Recent weak UK economic data, such as Consumer Price Index (CPI) inflation, disappointing GDP, and Industrial Production readings, have boosted a BoE rate cut bets in the December meeting. The UK central bank is expected to cut interest rates in December and again early next year as inflation cools over the coming months, according to a majority of economists in a Reuters poll who last month expected borrowing costs to remain unchanged for the remainder of this year. Read more… GBP/USD finds thin technical support ahead of global PMIs GBP/USD cut off a four-day losing streak on Thursday, catching a thin technical bounce from the 1.3050 region. Cable price action is still caught on the bearish side of long-term moving averages, but investors are taking a breather ahead of Friday’s data docket. US Nonfarm Payrolls (NFP) jobs data from September was released on Thursday, much later than usual thanks to the US government’s latest funding shutdown. The data came in stronger than expected, showing 119K net job gains through September, well above the expected 50K. The upswing in NFP jobs gains functionally closes the door on a Federal Reserve (Fed) interest rate cut on December 10, which would have required stronger signs of labor market deterioration. Read more… GBP/USD rebounds as traders twist strong NFP into fresh Fed-cut hopes The Pound Sterling (GBP) advances during the North American session on…