GBP/USD Reclaims EMA Band as Sterling Rises Against Dollar

The British Pound has made significant gains against the US Dollar since August, reclaiming its position above the 50-day and 200-day Exponential Moving Average (EMA) band near 1.3400.

This growth beat was largely attributed to a temporary Gulf ceasefire in June, which boosted services sector growth. However, manufacturing output fell by 0.5% in the same month.

The Pound has held steady around 1.3500, despite a range of only 40 pips on Thursday. This is seen as a thin response to a strong economic data release and a soft US inflation print.