The GBP/USD pair attracts fresh sellers following the previous day's good two-way price move and slides closer to mid-1.2900s during the Asian session on Tuesday.
GBP/USD meets with a fresh supply on Tuesday and seems vulnerable to sliding further. Bets for smaller Fed rate cuts revive the USD demand and exert pressure on the pair. The technical setup favors bears and supports prospects for a further depreciating move. The GBP/USD pair attracts fresh sellers following the previous day's good two-way price move and slides closer to mid-1.2900s during the Asian session on Tuesday.
GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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