Pound Sterling Price News and Forecast: GBP/USD is under pressure
|Pound Sterling revisits weekly low against US Dollar ahead of US NFP data
The Pound Sterling (GBP) trades near its weekly low around 1.3420 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair is under pressure as the US Dollar rallies further ahead of the United States (US) Nonfarm Payrolls (NFP) data for December, which will be published at 13:30 GMT.
During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.17% higher near 99.00, the highest level seen in four weeks. Read more...
GBP/USD: Likely to trade in a lower range of 1.3400/1.3535 – UOB Group
Downside risk appears to be building, but any Pound Sterling (GBP) weakness is likely part of a lower range of 1.3400/1.3535, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
24-HOUR VIEW: "Yesterday, when GBP was at 1.3460, we were of the view that it 'could test 1.3435'. We highlighted that “the major support at 1.3400 is not expected to come under threat'. Read more...
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