Home Analysis GBP/USD is stuck in a consolidation zone

GBP/USD is stuck in a consolidation zone

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GBPUSD is stuck in a consolidation zone - forexspacex.com

The British pound is lacking strength for any upside correction on Tuesday morning in Asia. The bulls are not active despite the weakness in the U.S. dollar. Consequently, the GBP/USD is struggling near the major psychological resistance level at 1.2300 level. Investors are looking for any fresh economic catalysts to take over this level. Meanwhile, the dollar index slipped a little in the red zone and showed a modest intraday loss. Momentum indicators are in the neutral zone but a break below the $1.2250 support zone could not be ruled out. The price is likely to post a steep fall once it breaks this support zone.

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