GBP/USD saw a moderate raise to 1.2550 as the market sees low trading volume this week due to the upcoming Christmas holidays. The pair is consolidating with minimal price action as the market adjusts to the silent holiday season. Similarly, the US Dollar Index (DXY) remains largely flat and hovers above 108.00, showing no significant change pending further economic data. Read more…
The pound sterling (GBP) is gaining ground against its main competitors on Tuesday. The British currency is gaining as investors largely ignore a soft raise in dovish sentiment from the Bank of England (BoE) for next year. Traders expect an interest rate cut of 53 basis points (bps) in 2025, up slightly from 46 bps after the BoE announced its policy on Thursday. Read more…
GBP/USD is consolidating in the range below the mid-1.2500 level during Tuesday’s Asian session and remains within striking distance of its lowest level since touching May last week. Moreover, the fundamental context and technical structure suggest that the path of least resistance for spot prices remains down. Read more…
