Pound Sterling Struggles to Gain Momentum Against US Dollar
The Pound Sterling continues to face challenges in its quest to reach the 1.2730 level against the US Dollar. Current indications suggest that while there may be room for a rebound, the momentum is not sufficient. Notably, if GBP/USD breaches the 1.2580 level, it will signal that the 1.2730 goal is likely unattainable in the near future. According to FX analysts Quek Ser Leang and Peter Chia from UOB Group, this trend highlights the difficulties faced by the Pound. Investors should keep a close watch on these levels as they reflect potential shifts in market dynamics.