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December 10, 2024

GBP/USD Holds Steady at 1.2750 as Market Awaits Crucial Economic Data

GBP/USD remains stable for the second consecutive day, trading around 1.2750 during the Asian session on Tuesday. The risk-sensitive pair encounters challenges as the US Dollar (USD) continues to strengthen, driven by market caution ahead of the highly anticipated US Consumer Price Index (CPI) data scheduled for release on Wednesday. Investors are closely monitoring these economic indicators to inform their trading strategies, as fluctuations in these figures can significantly impact currency valuations. As traders digest potential outcomes from the CPI report, GBP/USD may experience increased volatility, influencing several market players on both sides. Stay tuned for market updates, as this pivotal data release approaches, potentially leading to market shifts.

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