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 pound fell more than 1%, falling below $1.29, as the stronger dollar gained momentum after early US election results suggested a higher probability of a Donald Trump victory.
The British pound has declined against both the U.S. dollar and the euro amid uncertainty surrounding the U.S. presidential election results.
At the start of trading this week, the GBP/USD exchange rate rose to 1.2998 before settling around 1.2950 at the time of writing this analysis.
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The British pound experienced considerable noise during Monday's trading session, which isn’t surprising given the potential disruptions and uncertainties this week.
For two days in a row, the GBP/USD currency pair has been trying to rebound higher to compensate for the strong losses it suffered last week, which extended to the 1.2843 support level, its lowest in three months.
The British pound has been fairly strong during the trading session on Friday as the jobs number in the United States came out as adding just 12,000 jobs last month.
Oct 31, 2024, Technical analysis of the pound sterling against the dollar GBP/USD
The British Pound fluctuated throughout Wednesday’s trading session, with the 1.30 level acting as a significant psychological barrier that has previously proven important.
At the time of writing, the GBP/USD pair was trading at $1.3010, almost unchanged from Monday’s opening levels.
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During my daily analysis of the GBP/USD pair, I’m watching the 1.30 level with a lot of interest, as this is an area that has been important multiple times in the past.
The GBP/USD exchange rate is likely to remain under pressure in the coming days, with any bouts of strength likely to be short-lived.
During my daily analysis of the GBP/USD pair, the first thing I see is that there has been a lot of volatility in this market.
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At the end of last week, the GBP/USD attempted to rebound, but its gains did not exceed the 1.2998 level, and it is currently stabilizing near the support level of 1.2940 at the beginning of an important week, near its three-month low.
Get the GBP/USD pair recommendation and buy and sell levels for today, October 24, 2024 here.
Despite the continued decline in the GBP/USD pair, which has reached its lowest level in over two months at 1.2907, the British pound may benefit from