GBP/USD aims to recapture 1.1200 ahead of US ISM Manufacturing PMI data
The GBP/USD pair is struggling to smash the immediate hurdle of 1.1200 in the early Tokyo session. The cable has displayed a modest upside move after the termination of the corrective move to near 1.1022. The major is expected to continue its lackluster performance in the 1.1100-1.1170 range and will later display a bullish imbalanced move.
GBP/USD Weekly Forecast: Pound's fate depends on market confidence in UK government
It has been a crazy volatile week for the British pound following the presentation of the highly controversial mini-budget. After having plunged to a new all-time low of 1.0340 at the beginning of the week, GBP/USD reversed its direction and advanced beyond 1.1200 early Friday. Although the pair lost its bullish momentum ahead of the weekend, it ended up closing the week in positive territory.
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