GBP/USD remains on backfoot below 1.257
On Friday morning in the Asian session, GBP/USD remained low around 1.2550. Expectations that the Bank of England might cut rates before the U.S. Federal Reserve are weighing down on the British Pound and the currency pair.
Indicators are trending downward, and a bearish crossover between the EMA 34 and 89 is adding pressure to the pair. UK Industrial Production data due later today could further dictate the direction for GBP/USD.
Support levels are seen at 1.2500 and 1.2450, while on the upside, 1.2600 and 1.2710 may cap any potential gains.
Indicators are trending downward, and a bearish crossover between the EMA 34 and 89 is adding pressure to the pair. UK Industrial Production data due later today could further dictate the direction for GBP/USD.
Support levels are seen at 1.2500 and 1.2450, while on the upside, 1.2600 and 1.2710 may cap any potential gains.
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