GBP/USD is currently testing the near low of 1.2650 in early European trading on Wednesday. The US dollar is strengthening its recovery amidst cautious sentiment, ignoring the negative yields of US Treasury bonds.
At the moment, this currency pair is hovering around the 1.2650 mark, caught in a technical standoff between the resistance level at 1.2700 and an uptick in short-term technical support, rising from its last low to the level of 1.2550.
At the moment, this currency pair is hovering around the 1.2650 mark, caught in a technical standoff between the resistance level at 1.2700 and an uptick in short-term technical support, rising from its last low to the level of 1.2550.
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