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During the early Asian trading session on Friday, the GBP/USD pair maintained its defensive stance around the 1.2430 level. The weakness in the British pound against the stronger U.S. dollar was influenced by robust U.S. economic data and hawkish comments from Federal Reserve officials, sparking speculation that the central bank may delay interest rate cuts until September.
On the chart, the price has broken out of the sideways box, ending the previous consolidation phase, and is expected to continue declining if it follows the Dow Theory trend.
On the chart, the price has broken out of the sideways box, ending the previous consolidation phase, and is expected to continue declining if it follows the Dow Theory trend.
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