GBP/USD Faces Resistance as USD Demand Rises
The GBP/USD pair encountered selling during the Asian trading session, easing from a recent spike to the 1.3560 range, which represented a multi-day peak. Currently, prices have dipped to around the 1.3515 mark, reflecting a new daily low. This retreat occurs amidst a modest rebound in the US Dollar (USD), raising cautious sentiments among bearish traders. Given the ongoing fluctuations in both currencies, traders should closely monitor market trends and sentiment, particularly in light of upcoming economic announcements that could impact price directions further.