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November 22, 2024

GBP/USD Struggles to Show Signs of Recovery After Recent Declines

After a 0.5% drop on Thursday, GBP/USD continued to decline during the Asian session on Friday, reaching its lowest level near 1.2550 since May. The currency pair has shown signs of technical oversold conditions, but any attempts to recover may be short-lived. As traders analyze the latest market developments, they are keeping a close watch on factors influencing the value of the Pound Sterling. The outlook appears cautious as long as downward pressures persist.

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