The GBP/USD pair continued to struggle to find any meaningful recovery and extended its consolidative price moves for the third straight day on Wednesday. Spot prices traded below the 1.2400 mark during the Asian session and remained within striking distance of their lowest since early June.
Traders now seem reluctant and opting to wait on the sidelines ahead of this week's key central bank data/event risks. BUT! The Federal Reserve (Fed) is expected to leave interest rates unchanged at the end of the two-day meeting. This will therefore weigh on the USD and give fresh impetus to the GBP/USD pair.
Traders now seem reluctant and opting to wait on the sidelines ahead of this week's key central bank data/event risks. BUT! The Federal Reserve (Fed) is expected to leave interest rates unchanged at the end of the two-day meeting. This will therefore weigh on the USD and give fresh impetus to the GBP/USD pair.
