GBP/USD strongly defensive, need to guard against risks

The GBP/USD currency pair is struggling to find a price floor despite market optimism and widespread weakness in the US dollar. On the 1D chart we can see that the pair is trading in a defensive range. It is likely that this pair will reach the 1,250 USD mark. Before new behavior.

It is important to remain cautious ahead of significant risks such as UK inflation data and Bank of England decisions.

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good luck