Pound Sterling Price News and Forecast: GBP/USD holds lower grounds after a volatile day
|GBP/USD remains pressured around 1.0250 amid growth fears, UK Retail Sales eyed
GBP/USD bears flex muscles around 1.0250, after retaking control following a brief bounce after the Fed Minutes. That said, the cable pair’s inaction could be attributed to the lack of major data/events during Thursday’s initial Asian session. It’s worth noting that the quote poked weekly top after the UK inflation data but failed to remain firmer amid fears that higher price pressure could lead to recession.
GBP/USD bulls correcting the price towards 1.2050 into the FOMC minutes
GBP/USD is under pressure in midday New York trade. Cable was last down 0.39% on the day at 1.2046 and has fallen from a high of 1.2142 and met a low of 1.2027 from where it is correcting currently. Markets have been digesting plenty of data this week in the build-up to the Federal Reserve's minutes from its July meeting.
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