The daily chart portrays the pair as neutral to downward biased, with the GBP/USD hovering around the 200-DMA at 1.2561. a daily close below the latter could open the door to challenge 1.2500, followed by the 100-DMA at 1.2487. Once cleared, that could open the door to test the next support level seen at 1.2374, November’s 17 low.
Besides that, GBP/USD takes cues from the fall in US Treasury bond yields after skyrocketing more than 12 basis points a day ago, dropping six basis points and standing at 4.26%.
Interested in weekly GBPUSD forecasts? Our experts make weekly updates forecasting the next possible moves of the pound-dollar pair. Here you can find the most recent forecast by our market experts: