The British Pound (GBP) is recovering some ground against the US Dollar (USD) late in the North American session on Thursday after dipping to a daily low of 1.2069. GBP/USD buyers stepped in around the latter and lifted the pair to its current exchange rate of 1.2128, registering gains of 0.16%. Read More…
The Pound Sterling (GBP) recovered against the US Dollar after upbeat US Q3 Gross Domestic Product (GDP) data. Earlier, the GBP/USD pair was facing intense selling pressure amid dismal market sentiment due to escalating tensions in the Middle East combines with a poor economic outlook for the United Kingdom. The near-term appeal for the Pound Sterling is downbeat as labor market conditions and business activity in the UK region are deteriorating due to a decline in new business orders. Read More…
In the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD risks further retracements in the short-term horizon. Read More…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-stages-a-comeback-reclaims-12100-202310261937