GBP/USD churns in congestion zone ahead of midweek holiday
GBP/USD pulled back on Monday, kicking off the new trading week with a fresh down day. The pair fell around one-third of one percent, easing back below 1.2550 as bids remain mired in a near-term congestion pattern on the bottom end of recent price action. The UK’s data release schedule this week is devoid of any meaningful prints, leaving Cable at the mercy of broader market flows in a tepid year-end environment. Read More…
Pound Sterling retreats against US Dollar in light volume conditions before New Year
The Pound Sterling (GBP) drops to near 1.2550 after failing to extend the intraday high of 1.2600 and turns negative against the US Dollar (USD) in Monday’s North American session. The GBP/USD pair falls as the US Dollar (USD) bounces back in thin trading volume conditions before New Year celebrations. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rises to near 108.30 and is set to end the year with almost 6.7% gains. Read More…
GBP/USD holds gains near 1.2600 due to thin trading ahead of the New Year holiday
The GBP/USD pair extends its gains for the second consecutive day, trading near 1.2580 during the Asian session on Monday. The upward movement can be attributed to the subdued US Dollar (USD) amid lighter-than-usual trading volumes ahead of the New Year holiday. Read More…
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