GBP/USD lost more than 50 pips on Wednesday and declined below 1.2100 early Thursday. The pair remains technically bearish in the near term and the so
GBP/USD Forecast: Sellers to retain control while Pound Sterling remains below 1.2100 uring market mood suggests that a steady recovery could be hard to come by. Escalating geopolitical tensions caused investors to seek refuge late Wednesday, helping the US Dollar continue to outperform its risk-sensitive rivals. News of Israeli militarypreparing for a ground incursion into the Gaza region revived fears over a deepening crisis in the Middle East. Read more...
Pound Sterling weakens on risk-off mood amid Middle East conflicts The Pound Sterling continues to face intense selling pressure amiddismal market sentiment due to escalating tensions in the Middle East combines with a poor economic outlook for the United Kingdom. The GBP/USD pair continues its losing streak for the third trading session in a row as labor market conditions and business activity in the UK region are deteriorating due to a decline in new business orders.
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