At the start of the Asian session on Friday, the GBP/USD pair held firm at a defensive level around 1.2430. The British pound weakened against a stronger U.S. dollar, influenced by strong U.S. economic data and hawkish statements from Federal Reserve officials, leading markets to speculate that the The US central bank may postpone interest rate cuts until September.
On the chart, the price has broken through the sideways area, ending the previous period of consolidation, and is expected to continue falling in the trend described by Dow Theory.
On the chart, the price has broken through the sideways area, ending the previous period of consolidation, and is expected to continue falling in the trend described by Dow Theory.
