The Pound Sterling (GBP) ranges above 1.2800 against the US Dollar (USD) in Tuesday’s early London session.
The Pound Sterling holds gains against the US Dollar with a focus on Fed Powell’s testimony. BoE’s Haskel argued in favor of holding interest rates steady at their current levels. This week, investors will pay close attention to the US CPI and UK factory data. The Pound Sterling ranges above 1.2800 against the US Dollar in Tuesday’s early Londonsession.
On the political front, the overall outlook of the Pound Sterling has remained firm as an outright majority by Keir Starmer-led Labour Party in UK parliamentary elections has brought political stability in the economy. Technical Analysis: Pound Sterling aims for firm footing above 1.2800 The Pound Sterling trades close to a three-week high above 1.2800 in Tuesday’s late Asian session. The GBP/USD pair forms an inverted Head and Shoulder chart pattern on a daily timeframe.
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