GBP/USD hits 1.2550 amid low trading volume
The GBP/USD pair has seen a modest rise to 1.2550, as low trading volume characterizes the market this week due to the upcoming Christmas holidays. The pair has been consolidating, with minimal price action as the market adjusts to a quiet holiday period. Similarly, the US Dollar Index (DXY) is largely flat, hovering above 108.00, showing no significant changes as traders await further economic data. Read More…
The Pound Sterling (GBP) advances against its major peers on Tuesday. The British currency gains as investors largely ignore a mild increase in Bank of England’s (BoE) dovish bets for the next year. Traders see a 53-basis points (bps) interest rate reduction in 2025, slightly up from 46 bps after the BoE policy announcement on Thursday. Read More…
The GBP/USD pair consolidates in a range below mid-1.2500s during the Asian session on Tuesday and remains within striking distance of its lowest level since May touched last week. Moreover, the fundamental backdrop and the technical setup suggest that the path of least resistance for spot prices remains on the downside. Read More…
