The GBPUSD pair experienced a bearish trend on Friday, without any strong direction to bolster its momentum. The currency pair remained confined to trading within a narrow band, hovering around the 1.2960 mark during the Asian session. However, the prices remained close to their peak since early November, slightly exceeding the critical psychological threshold of 1.3000 reached on Thursday. The performance of GBPUSD now largely hinges on developments concerning the US Dollar (USD) price movements.

The ongoing fluctuations in this trading range suggest traders are assessing the potential for a breakout. As market participants monitor economic indicators and geopolitical events, any sudden moves could lead to significant shifts in the GBPUSD exchange rate. Investors are particularly vigilant about how the USD performs, as it remains a dominant factor influencing the currency pair’s trajectory.

In summary, GBPUSD stands at a vital juncture, navigating between support levels and potential breakout points, with the USD set to dictate its future direction.