The most active trading sessions for the GBP/USD currency pair occur in London and New York, with some activity during Asian markets from 2400 GMT to 0900 GMT..
GBP/USD is sensitive to political and economic developments in the UK. It's influenced by interest rate differentials, economic data, and geopolitical events. For the latest updates and forecasts on GBP/USD, consult reliable sources and market analysis reports to make informed trading decisions
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The British pound initially has shown a lot of volatility during the trading session on Monday, but quite frankly, it looks as if it is going to settle on some kind of sideways action.
At the end of last week's trading, the GBP/USD price tried to rebound higher, but its gains did not exceed the 1.2877 level and closed the week's trading stable around the 1.2863 level.
The British pound has rallied a bit during the early hours on Friday as it looks like the 1.2850 level is going to continue to offer market memory.
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The Pound Sterling briefly climbed above $1.290 after data revealed a strong expansion in UK private sector activity in July.
For five consecutive trading sessions, the GBP/USD exchange rate has been under selling pressure.
The British pound has drifted a little bit lower during the trading session, but it looks like buyers are trying to protect the 1.29 level.
At the start of this week’s trading, the GBP/USD exchange rate rebounded above 1.2920 after reaching a one-year high of over 1.30 last week.
The pound continues to retreat from recent highs, supported along the way by UK retail sales data that showed a sharp decline in activity in June.
GBP/USD broke through the psychological resistance level of 1.3000, extending gains to 1.3044 and remaining close to its highest level in a year.
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The recent trades show that the progress of GBP/USD exchange rate has temporarily halted near the psychological resistance barrier of 1.30.
The British pound initially fell during the trading session on Tuesday but has seen a bit of support later in the session.
According to recent trades, the British pound reached its highest level in a year against the US dollar after rising 1.35% last week.
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The GBP/USD rate began this week's trading, stabilizing around the 1.2973 level, awaiting any new developments.
A recent rally in GBP/USD has once again stalled after hitting a well-known technical barrier and Jerome Powell's sober assessment of the likelihood of rate cuts.
The recent gains in the GBP/USD price have been capped at the 1.2845 resistance level.