Pound Sterling Price News and Forecast: GBP/USD - Caution before placing any aggressive bets
|GBP/USD Forecast: Near-term outlook remains uncertain ahead of UK-EU Brexit negotiations
The GBP/USD pair failed to capitalize on its early uptick on Thursday, rather met with some fresh supply near the 1.2950 region and dropped to one-week lows. The British pound started losing ground after the UK published its mandate outlining its priorities for trade talks with the European Union. The document stated that the British Prime Minister Boris Johnson could walk away from trade talks in June unless there is the "broad outline" of an agreement.
GBP/USD: Caution before placing any aggressive bets
Nothing seems to have changed much for the pair and the near-term bias remains tilted in favour of bearish traders. However, the fact that the cable has struggled to capitalize on its move in either direction warrants some caution before placing any aggressive bets, FXStreet’s Haresh Menghani briefs.
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