GBP/USD Trades Sideways as Mixed US Data Keeps Hawkish Bets Alive

The Pound Sterling (GBP) is trading sideways against the US Dollar on Tuesday after mixed US economic data released earlier in the day. Business activity in the US dipped in August, but a strong jobs market has kept hopes alive for a rate hike by the Federal Reserve underpinning the US dollar.

GBP/USD trades at 1.3540, down 0.06% from Monday's close. The pair is currently below its 100-day simple moving average (SMA), but still maintains a bullish bias above this key technical level.

Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole symposium continue to support the US dollar against the British Pound, amid ongoing geopolitical tensions in the Middle East and concerns over inflation.