GBP/USD Price Analysis: Retreats towards 1.2450 inside rising wedge, UK Retail Sales eyed
GBP/USD struggles to keep Thursday’s stellar gains inside a rising wedge bearish formation, despite staying on the way to post the first weekly gains in five. That said, the cable pair eases to 1.2475 while stepping back from the wedge’s upper line during the early Friday morning in Asia.
GBP/USD: Don’t get too comfy with recent gains
GBP/USD look headed for its first weekly gain in four weeks moving into late Thursday trading. At the time of writing, the pair was trading up by 2.03% at 1.25089, supported by a broadly weaker US dollar. But a stronger pound this week didn’t relate to any major positive news about the UK economy. On the contrary, economic data from the UK has been a relative disappointment.
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