GBP/USD hangs near weekly low

Hello everyone ! Today The GBP/USD pair is facing difficulties in achieving any significant upward momentum on Thursday and is trading within a narrow range below the 1.2100 level today. The price is currently hovering around 1.213 and awaiting fresh catalysts from the Fed Chairman's speech later today to determine a clearer direction moving forward.

If the GBP/USD fails to surpass the 1.2200 level, sellers may remain interested and cause the currency pair to retreat towards the 1.2130 (static level) and 1.2100 (psychological, static level).

Operación activa

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At the time of press, US stock index futures were down between 0.1% and 0.2%. If safe-haven flows dominate the action amid escalating geopolitical tensions later in the day, GBP/USD could have a hard time gaining traction.

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