GBP/USD stays under mild selling pressure near the 1.3450 area during European session, as the US Dollar retains its underlying strength. Ongoing geopolitical concerns in the Middle East continue to support demand for the Greenback ahead of the closely watched US NFP report.
At the 4H FXOpen chart, GBP/USD is trading with a slight negative bias around the 1.3460 level during Thursday's European session. The pair remains confined to a narrow range as traders refrain from taking aggressive positions ahead of Friday's closely watched US (NFP)
At the FXOpen chart, GBP/USD continues to edge higher for a second consecutive session during Wednesday's European trading, holding onto modest gains above the mid-1.3400 region. Despite the positive momentum, buying interest remains limited
The British Pound remains under pressure against its major peers, with GBP/USD trading around 0.1% lower near 1.3420 during Tuesday’s European session. The decline in the pair is largely driven by renewed US Dollar strength.
At the start of the 4H FXOpen chart, GBP/USD is trading slightly lower around the 1.3470 level during Monday’s early European session. The British Pound is under pressure against its major peers as traders reassess Bank of England (BoE) rate expectations .
GBP/USD remains under pressure near 1.3450 during Friday's European session. The US Dollar draws support from renewed safe-haven demand as escalating tensions in the Middle East and stronger oil prices dampen market sentiment, limiting the pair's upside.
Takeaway from the Fed meeting:
Chair Kevin #Warsh hinted the #Fed could review its inflation target framework, saying: "We're sticking with PCE for now... but who knows, come after next January."
Inflation readings (by Warsh’s account) have been above 2% for at least 63 months.