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GBP/USD consolidates recent losses while picking up bids to 1.2050 during early Tuesday morning in Europe, printing the first daily gains in four. In doing so, the Cable pair justifies the nearly oversold RSI (14) as traders await fresh clues. Read more…
GBP/USD is flat on the day at 1.2025 so far as we enter the Tokyo session with the price sticking to a narrow 1.2013-1.2027 so far. The Pound Sterling fell to a one-month low against the US Dollar at the start of this week with traders focussing on British growth data and Bank of England speakers.
Analysts at TD Securities explained that the ”further strikes, a fall in hospital visits, and heavy snowfall likely drove a sharp decline in December’sGross Domestic Product”. Read more…
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