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.
Forex trading can be extremely risky and should only be done in the presence of an expert. We do not recommend any currency pairs or options to buy or sell to our readers. Forecasts or articles available on this website do not constitute investment advice and are only for general information. Kindly consult with a professional financial advisor before using the information on this website for trading or investing.