The Pound Sterling (GBP) failed to sustain the bounce against the US Dollar (USD), as the GBP/USD pair lost upside momentum once again when it tried to reach 1.2700.
The Pound Sterling rebounded from seven-week lows against the US Dollar. GBP/USD recovery set to fade heading into the US inflation week. The Pound Sterling still targets 1.2400, as the daily RSI remains below 50.00. The Pound Sterling failed to sustain the bounce against the US Dollar , as the GBP/USD pair lost upside momentum once again when it tried to reach 1.2700.
The USD gathered strength on the upbeat jobs report and caused GBP/USD to retreat below 1.2600 ahead of the weekend. Week ahead: US CPI to hog the limelight The US inflation data, the Consumer Price Index on Wednesday and the Producer Price Index on Thursday, are likely to stand in a relatively quiet week ahead.
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