Pound Sterling consolidates against USD in holiday-curtailed week
The Pound Sterling (GBP) trades sideways above the psychological support of 1.2500 against the US Dollar (USD) in Tuesday’s London session. The GBP/USD pair consolidates as trading volume is low amid a holiday-shortened week due to Christmas Eve and Boxing Day on Wednesday and Thursday, respectively.
The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, also trades sideways around 108.15. Read more…
GBP/USD Forecast: Pound Sterling stays directionless below 1.2550
GBP/USD moves sideways in a tight range below 1.2550 in the European morning on Tuesday after posting small losses on Monday. The pair is likely to have a hard time finding direction in the near term, with trading conditions remaining thin heading into the Christmas holiday.
The US Dollar held its ground on Monday but struggled to gather strength following mixed macroeconomic data releases from the US. Read more…
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