Home Analysis British pound gained some ground on Flat USD

British pound gained some ground on Flat USD

British pound gained some ground on Flat USD - forexspacex.com

The GBP/USD exchange rate posted some minor gains during the course of the European trading session on Tuesday. From a fundamental perspective, some corrections in the dollar and the treasury yields acted as tailwinds for the risk-sensitive British pound. The GBP/USD is up by some 0.40% so far and is eyeing the 1.1900 level which, once cleared, could pave the way for a weekly gain. The Bank of England is also expected to raise the interest rate in the next few weeks to bring inflation under control. The pair witnessed a quick jump this month and it will be interesting to see whether the bulls can hold on to the gains or not.

Important Pivots

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