GBP/USD hangs near weekly low
Updated
Hello everyone ! Today The GBP/USD pair is facing difficulties in achieving any significant upward momentum on Thursday and is trading within a narrow range below the 1.2100 level today. The price is currently hovering around 1.213 and awaiting fresh catalysts from the Fed Chairman's speech later today to determine a clearer direction moving forward.
If the GBP/USD fails to surpass the 1.2200 level, sellers may remain interested and cause the currency pair to retreat towards the 1.2130 (static level) and 1.2100 (psychological, static level).
If the GBP/USD fails to surpass the 1.2200 level, sellers may remain interested and cause the currency pair to retreat towards the 1.2130 (static level) and 1.2100 (psychological, static level).
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Note
At the time of press, US stock index futures were down between 0.1% and 0.2%. If safe-haven flows dominate the action amid escalating geopolitical tensions later in the day, GBP/USD could have a hard time gaining traction.Note
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