Hi everybody! Currently GBP/USD remains near three-month lows below 1.2400 early on Monday. The currency pair is struggling to find a floor despite market optimism and widespread weakness in the US dollar. It is important to remain cautious ahead of significant risks such as UK inflation data and Bank of England decisions.
On the D1 chart we can see that the pair is in a downtrend. But, also at a defensive level, there is a possibility that GBPUSD will have mild price behavior and then potentially a new opportunity.
On the D1 chart we can see that the pair is in a downtrend. But, also at a defensive level, there is a possibility that GBPUSD will have mild price behavior and then potentially a new opportunity.
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good luck traders.
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the GBP/USD exchange rate was trading sideways earlier this week. Darius puts it this way: The pair started near 1.2400 and has struggled to find momentum since. The day's action shows the exchange rate has fluctuated between 1.2400 and 1.2380.
