GBP/USD Faces Decline as US Dollar Gains Traction
The GBP/USD pair is experiencing selling pressure during the Asian session on Wednesday, erasing a portion of the weekly gains achieved over the last two days. As it hovers around the 1.3400 mark, the intraday drop is driven by modest strength in the US Dollar (USD). Consequently, spot prices are dragged below the mid-1.3300 range in the last hour. Traders should monitor the USD’s performance closely, as it may influence further moves in the GBP/USD pair. Investors remain cautious ahead of upcoming economic indicators that could further impact currency valuations. Stay tuned for updates and insights on this evolving market landscape.